/ 16 November 1999

M-WEB CUTS ITS LOSSES

INTERNET service provider M-Web Holdings Limited announced on Sunday that its revenue for the six months to September 30 grew by over 130% to R92-million. A combination of agressive marketing and its growing internet branding saw after-tax losses fall from R189-million in its year-end to March, to R133-million for the six months to September. The company’s subscriber base, meanwhile, showed a 300% year-on-year growth — boosting its number of subscribers to 177000. Operating losses amounted to R142-million for the period up to the end of September.