Bandwidth infrastructure provider euNetworks Group said first-quarter revenues more than doubled from a year earlier, thanks in part to acquisitions but also due to generally strong sales growth. The Singapore-listed company, which owns and operates 13 fibre based metropolitan networks across Europe, said it gained 29 new customers in the quarter, with 92% of new sales being for network services.
"The momentum we saw in our business in 4Q 2011 has continued through the 1Q 2012," said Chief Executive Officer Brady Rafuse in a statement. "Integration programmes and synergies delivered from the acquisitions made last year, continue to drive further value into our business." Revenues of totalled €23 million in the quarter, up 119% from a year earlier. Earnings before interest rates, tax, depreciation and amortisation totalled 2.1 million.
Source: Automated Trader