Total turnover and other income for Commsworld Ltd last year increased from £22.7m in 2021 to £27.9m, profit before tax was £3.3m, up from £2.3m, and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were £4.5m, up from £3.4m.
The figures reflected the continued growth of Commsworld’s core business, alongside the continuing quality of its service to long-standing customers both in the public and private sectors. Highlights included securing a new framework agreement worth more than £20m for digital connectivity services with Northumberland County Council, among a host of new contract wins.
This followed the successful awarding of the North Lanarkshire Council contract which could see £150m spent over 15 years to transform North Lanarkshire’s digital infrastructure and connectivity.
The contract has seen Commsworld accelerate the roll-out of gigabit-capable fire broadband across the entire local authority area, creating a free public Wi-Fi network in town centres and significantly boosting the internet connectivity to schools.
Its private sector work includes providing ultra-fast network connectivity to the £1bn St James Quarter in Edinburgh, and fish processing company Pelagia, legal firm Burness Paull LLP, dental supply company Wright Cottrell, global IT and business consulting services firm CGI, Arnold Clark, and the Royal Botanic Garden Edinburgh.
Meanwhile Commsworld Group completed a refinance with RBS and Virgin Money that will enable its growth and investment strategy to continue to win large complex projects including fibre network builds. Clearwater International advised Commsworld on its development plan which would see it significantly expand its proprietary fibre network.
This growth is built on the foundation of its Optical Core Network, which allows Commsworld to deliver transformative connectivity to areas the length and breadth of Britain.
Steve Langmead, Chief Executive of Commsworld, said: “Our strong 2022 is testament to the continued benefit of our continued investment in our Optical Core Network. Through this network, which provides a ‘spine’ that allows anyone, anywhere in the UK to connect to super-fast full-fibre broadband, Commsworld is steadily growing both its core private enterprise business whilst expanding its public sector customer base and geographical footprint in 2022.
“This is also thanks to the hard work of Commsworld’s staff, whose efforts and expertise helped secure a new 20 year, £20m+ framework agreement for Digital Connectivity Services with Northumberland County Council this year among a host of new contract wins, following the successful North Lanarkshire Council win the previous year.
“We also continue to provide an excellent service for our loyal, long-term clients thanks to the world-class quality of our service. This was shown most recently in our successful delivery of seamless connectivity in Glasgow and around Scotland for the inaugural 11-day UCI Cycling World Championships.
“This was the latest of a number of high-profile events in Glasgow which we provided connectivity for, with others including Euro 2020 fan zones, TRNSMT and the World Pipe Band Championships.”