Thus has attacked its rivals for implementing unsustainable pricing polices. The company believes such pricing policies are creating an uncertain future for the telecoms industry. The same pricing policies are also expected to affect Thus’ revenue growth for this financial year.
Thus posted a reduction in pre tax losses and an increase in turnover for Q1 compared with the corresponding period last year. The company saw pre tax losses fall 39% to £13.9 million and turnover increase by 11% to £71 million.
Thus’ Internet operations also experienced a 22% increase in turnover compared with last year. The business unit posted turnover of £22.5 million. This figure was enhanced by an increase in the number of ADSL subscribers. The number of subscribers rose to 8,142 by the end of June 2002. Despite the success of Thus’ broadband operations, dial up revenue fell by £1 million to £4.5 million, due to a fall in the number of customers using this service.