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Cityfibre, one of Britain’s most prominent telecoms companies, has surpassed expectations by achieving profitability ahead of schedule. This success comes amidst a surge in customer acquisition, with approximately 1,000 new customers joining their network service daily.
In the first quarter of 2024, Cityfibre reported a remarkable 30% increase in sales compared to the previous year. This growth was fueled by a substantial rise in the number of customers, surpassing 400,000 in total.
Greg Mesch, the CEO of Cityfibre, expressed his satisfaction with the company’s performance, highlighting the achievement of profitability ahead of the projected timeline. Mesch also emphasized Cityfibre’s ambitious plans, including the acquisition of Lit Fibre, which has significantly expanded their full fibre rollout by up to 300,000 sites.
Looking ahead, Cityfibre aims to finalize additional acquisitions and continue its nationwide expansion efforts, with a target of reaching 8 million sites. Steve Holliday, the non-executive chairman, emphasized the importance of Cityfibre’s growth in fostering competition and delivering value to consumers and the broader economy.
