StockMarketWire.com - Rural Broadband Solutions, which provides broadband to rural parts of the UK, posted a full-year loss followings its recent acquisition of SWS.

Pre-tax losses for the year through December amounted to £0.72 million, compared to year-on-year losses of $0.37 million year-on-year.

Revenue of only £0.13 million reflected only two months contribution, since SWS was not acquired until the end of October, the company said.

SWS's revenue for the whole of 2020 was £0.76 million.

Rural Broadband Solutions said its cash balances had risen to £0.79 million, benefitting from £2.5 million raised on the admission, less the cash consideration of the acquisition of £1.24 million.

'By acquiring SWS, Rural Broadband has been transformed into an operating company with the strategic objective of becoming a major presence in the provision of broadband services to rural areas in the UK,' it said.


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