Rural broadband provider Satellite Solutions Worldwide sees revenue rocket as customers flock to the firm

 
Lucy White

Satellite Solutions Worldwide (SSW), an Aim-listed company which specialises in rural and last-mile super-fast broadband, has seen its total revenue increase by 261 per cent as customers have flocked to the firm.

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In its interim results this morning, the business revealed it had generated total revenues of £20.6m in the first half of this year, while its overheads as a percentage of revenue decreased to 27.2 per cent.

Meanwhile the number of customers had ballooned by more than 260 per cent to around 90,000.

“I am pleased that we are seeing accelerating customer sign up, higher retention rates and increased data demands. I believe these growth trends will continue as demand for digital services shows no sign of stopping,” said SSW's chief executive Andrew Walwyn.

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The business believes it is well on track to achieving its target of 100,000 customers by the end of the year.

SSW offers satellite-based broadband to areas which haven't been reached by wires or fibre. The cost of its services range from £9.99 to £409.99, depending on the data allowance and speed.

Over first half of the year, the business acquired two Norwegian businesses and an Australian competitor. Since then, it has also completed an £8m equity placing to nab UK wireless provider Quickline.

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