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CityFibre ends year in line with market expectations
Fibre-optic infrastructure designer, builder, operator, and owner CityFibre updated the market on its trading for the year ended 31 December on Tuesday, confirming results would be in line with current market expectations.
The AIM-traded firm said it had a strong end to 2017, securing a "groundbreaking" strategic partnership with Vodafone to roll out fibre-to-the-premises ('FTTP') to at least one million homes in 12 existing CityFibre towns and cities, alongside securing two public sector contracts in Scotland.
Those included a 19-year framework agreement with Glasgow City Council, and an additional 15-year agreement with Capita for the expansion of the public services network in Aberdeen.
"Against the backdrop of a rapidly evolving communications infrastructure landscape in the UK, CityFibre continues to make demonstrable progress on the development of its core UK networks," the board said in its update.
"In addition to ongoing commercial initiatives to capture a large share of the growing public sector pipeline and to further leverage sales opportunities in the business market via its wholesale channel partner network, Entanet, the group continues to advance its FTTP partnership with Vodafone to deliver the first one million premises, as part of our broader five million premises anchor framework agreement."
CityFibre added that detailed planning and preparation work was now underway for all 12 cities that would make up the first one million homes.
Milton Keynes was announced as the first city in January, with preliminary mobilisation currently underway and construction to commence by the end of the first quarter.
The company's board said subsequent full city builds would be announced in due course.
CityFibre intended to announce its audited results for the 2017 year on 24 April.