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Hull-based alternative broadband operator MS3, which have built a full fibre (FTTP) network across parts of East Yorkshire and Lincolnshire in England, has published their annual results to the end of 2025 and revealed that they’re home to 22,184 customers (up from 14,992 in 2024) and cover 238,806 premises (212,561 RFS) – up from 228,522 last year (195,759 RFS).
The provider, which offers wholesale access to its network via around 30 retail ISPs / partners, has become best known for helping to weaken KCOM’s grip on the broadband market in Hull. But in recent times they’ve also had to slow their network build in order to focus more on commercialisation of their existing network, due to wider market pressures (here), which shows up in the new results.
MS3’s most recent results have been published via their holding company of Humber Topco Limited, although the text in their report is often quite small and blurry. The provider’s overall take-up rate, while going in the right direction (3,700 added in the past year), is still fairly low at 10.44% (based on the RFS figure) and the average number of employees has fallen to 117 (2024: 130).
On the financial side, MS3 reported annual revenues of £5.38m (2024: £3.11m) and a gross profit of £1.22m (2024: £1.12m), albeit while making an operating loss of £14.33m (2024: £10.22m). The group also reported having overall net assets of £143.37m (2024: £128.95m). But as revealed last week (here), they have just gone EBITDA positive (i.e. earnings before interest, taxes, depreciation, and amortisation).
Going forward MS3 acknowledges many of the markets well-known pressures.
