Rural Broadband Solutions grows customer base following reverse transaction
Internet services provider Rural Broadband Solutions said on Wednesday that its customer base had grown since the company came into being by virtue of a reverse transaction in October 2020.
Rural Broadband, which had a customer base of over 2,300 in October, said it had grown that figure to 2,500 connections by the start of January 2021, averaging an additional 25 new sign-ups per month without having yet started to implement its gigabit network.
The AIM-listed group also noted that remains confident that its organic target of 5,000 monthly paying customers within 36 months following admission will be achieved.
Chief executive Keith Harris said: "We are seeing more and more isolated clusters and dispersed properties across the UK which would never be viable or sustainable to receive a Fibre to the Premises (FTTP) solution.
"The Government's reduction in Broadband funding from £5.0bn to £1.2bn over the next five years will only accelerate these forgotten communities. Of the £1.2bn, at least £250.0m has been earmarked for a continuation of a similar Rural Voucher Scheme with a likelihood of higher voucher values. This is good news for an innovative company like us that specialises in this field."
As of 1130 GMT, RBBS shares were untraded at 4.75p.