Sunday October 25, 2020

E-net loses €4m

E-net, the company that runs the government’s €170 million broadband network, made a loss of €4 million in its first year in business.

17th June, 2006

Despite the loss, the company had almost €1.6 million in shareholders’ funds at the end of April 2005 after issuing shares to investors, according to recent accounts. It had fixed assets worth almost €1.9 million at the end of the financial year.

In July 2004, E-net won a 15-year contract to manage the first phase of a €170 million regional broadband network being built by the government. The government recently secured EU structural funding for...

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