Turnover up 285pc at Digiweb

20 Apr 2006

Irish broadband provider Digiweb last night reported a 285pc increase in turnover to €5.6m for the financial year ended December 2005, compared with €1.9m a year earlier. The company is planning an aggressive attack on the managed services and hosting market as well as the mobile data market.

The company reported a gross profit increase of 220pc to €2.7m, up from €1.2m a year earlier.

The company attributed the growth to a rapid rise in broadband subscriptions, particularly for its flagship Metro high-speed data services. The company also reported strong growth in its DSL and satellite broadband subscriptions.

Digiweb’s head of strategic development John Quinn said that the company plans to continue to grow at this rate and will be expanding the reach of its Metro products to a further 20 Irish locations as well as a number of locations across Europe.

He added that the company will also be aggressively targeting the hosting and managed services business and will also enter the mobile data market later in the year.

“This has been an incredible year at Digiweb and a lot of hard work has gone into bringing the company to where it is today,” said Quinn.

“Our dedicated and skilled staff have massively attributed to our success. We are excited about our entry into new markets this year, and will be making further announcements over coming weeks which will herald a redefinition of the broadband market in Ireland,” Quinn said.

By John Kennedy