31st Aug 2021 12:07
Bigblu Broadband PLC - Bicester-based rural broadband services provider formerly known as Satellite Solutions Worldwide Group - Posts narrowed pretax loss and expresses confidence on outlook. For six months to May 31, pretax loss narrows to GBP67,000 from GBP3.7 million on revenue that rises to GBP16.2 million from GBP12.1 million.
Sells majority interest in QCL Holdings Ltd to global investor Northleaf Capital Partners Ltd for GBP48.6 million.
"Following completion of the disposal, BBB is on a strong financial footing," says Chief Executive Andrew Walwyn. "The board is delighted to propose today the return of surplus cash to shareholders and its near term focus will be on continuing to ensure it can maximise shareholder value from its continuing operations." Return is GBP26 million through a bonus issue of a new class of B shares, which the company will redeem for cash to return 45 pence per ordinary share to shareholders.
By Josie O'Brien; [email protected]
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