Superloop narrows half-year loss, shares dip
Make us a preferred source
Make us a preferred source on Google
The news: Internet services provider Superloop has narrowed its half-year loss on the back of new customers and a lucrative contract from Origin Energy.
The numbers: The company reported a net loss of $7.8 million, down from $18.7 million a year ago. Revenue for the six months to December was up by a third to $257.5 million. Superloop said it signed up 37,000 new customers in the period.
Shares in the company were down nearly 1% to $2.10 in early trading.
The context: Chief executive Paul Tyler said the company benefited from its low-cost operating model and growing scale advantages. A key driver was a recent wholesale division contract win from Origin Energy, which added 130,000 broadband customers..
The company reaffirmed full-year guidance for underlying earnings between $83 million and $88 million, and said it expects to turn a net profit by FY2026.
The source: ASX
