Fibre network operator euNetworks reports revenue boost

Bandwidth infrastructure provider euNetworks Group saw its recurring revenues increase by 14 per cent year on year during the third quarter of 2012.

The company, which owns and operates 13 fibre-based metropolitan broadband networks across Europe, saw its turnover hit €24.1 million (£19.3 million), while gross profit climbed by 2.5 per cent on the same point in 2011 to €16.2 million.

During recent months, euNetworks has boosted its existing fibre optic broadband infrastructure in east London's Tech City.

High-speed broadband is available to start-ups and established technology businesses in the Shoreditch district thanks to euNetworks, which has also partnered with managed service providers to bring enterprise IT solutions to local firms.

Among the companies to set up operations at Tech City are small businesses like EDITD and Songkick, as well as multinational corporations such as Google.

Brady Rafuse, chief executive of euNetworks, said: "I am encouraged with our progress and as ever, remain committed to driving further long-term recurring growth in our business."