KCOM, the Hull-based broadband and telecoms operator, has reported a wider loss for the year ended March 2025, though senior executives say the business has moved into stronger territory in the months since.
Turnover fell 5.6 percent to £96.2 million, while pre-tax losses widened from £1.6 million to £31.2 million. The company attributed the result to a challenging trading period, including operational headwinds in the telecoms sector and investment in network expansion.
Cost-cutting measures helped offset some of the decline. KCOM sold surplus IP addresses no longer in use, generating £5.023 million. That contributed to operating profit before exceptional items rising by £8.185 million to £18.6 million. After exceptional charges — including £3.9 million in restructuring costs, £2.8 million in consultancy fees and £1.025 million in employee restructuring — the operating loss stood at £40.3 million, compared with a £3.26 million loss in 2024.
Staff numbers decreased from 765 to 697 over the year. The company, known for its distinctive cream telephone boxes, used the period to extend coverage to harder-to-reach locations and mark its 120th anniversary, formally celebrated on November 28, 2024.
Directors said the pipeline of transformation projects leaves the group well-positioned. “KCOM strengthened performance, built on exceptional customer satisfaction and contributed to greater digital inclusion in our region,” they stated. “Performance for the year reflects our success in serving customers, setting ourselves up for the future, and leading the way as the UK’s most reliable network.”
Ofcom data underpins KCOM’s positioning as the UK’s most reliable broadband provider, a claim the company is preparing to push in a major marketing campaign. Its full-fibre network covers Hull, East Yorkshire and North Lincolnshire.
The firm, acquired by Australian investment group Macquarie Asset Management for £627 million in 2019, has renewed efforts to find a buyer. After two years with PJT Partners, Macquarie is now understood to have appointed Perella Weinberg Partners in New York to explore a potential sale or merger.