WHOLESALE fibre operator CityFibre saw its shares edge up 0.76 per cent yesterday after reporting it will meet market expectations for 2014 and remains “well-positioned for further growth in 2015.”
CityFibre said its joint venture with Sky and TalkTalk to trial a fibre network in York is “progressing at pace”, with a commercial launch expected later in the year.
“The underlying business continues to perform to plan, with strong incremental contracts being delivered in York, good initial contract conversion in Peterborough, and promising pre-registration levels in our expansion markets,” said CEO Greg Mesch.
“Experience in individual cities continues to establish trends ahead or in line with IPO expectations, while the roll out of new cities is proven achievable on budget and on time,” said FinnCap analyst Andrew Darley reiterating his 110p price target for CityFibre. Shares closed up at 66.5p on the news yesterday.