Gigaclear publishes annual report for 2020, confirming network rollout progress and uptake

24 Sep 2021

British full fibre broadband provider Gigaclear has confirmed that its network passed a total of 175,000 premises at the end of 2020, up from 126,000 a year earlier, with the number of homes classified as being ‘ready for service’ standing at 145,500 (Dec-19: 97,600). Publishing the figures as part of its annual report, the operator also noted that the pace of its network construction had begun to scale up in the second half of 2020, with it saying it was building out to a monthly average of 4,800 properties in H2 2020, up from 3,000 a month in the first half of the year.

Meanwhile, Gigaclear also revealed that, although the COVID-19 pandemic had ‘impacted [its] ability to accumulate customers in 2020’, it had still recorded a 49% year-on-year increase in the number of subscriptions it had, reaching 36,000 at the end of 2020. It said such growth had bene driven by ‘heightened customer demand for ultrafast broadband services, and increasingly effective sales and marketing strategies’.

In terms of financial performance, Gigaclear reported revenue of GBP14.1 million (USD19.3 million) for FY 2020, representing a 25% year-on-year increase, though it posted a loss of GBP46.6 million for the twelve-month period, compared to a loss of GBP33.8 million in 2019.

United Kingdom, Gigaclear