Thus warns of competitive market
Business telecoms firm Thus today unveiled a sharp reduction in first half losses but warned its market would remain challenging in the coming months.
Glasgow-based Thus, which owns the Demon internet brand, said operating losses on continuing operations came in at £5.8m (€8.5m), compared with a deficit of £23.3m (€34m) last year, as it won a string of new contracts.
Although the firm sounded an upbeat note about changes within the industry, it added that competition was expected to continue throughout its financial year.
Chief executive William Allan said the telecoms market was undergoing a period of change due to investment in new networks and industry consolidation.
However, he added: “We believe these changes will benefit the industry and our customers in the longer term but, in the shorter term, we expect aggressive prices to continue throughout this year.”
