Some important highlights from the report "The Company continues to execute on its projects and currently expects them to be completed by the project deadlines."
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"Q3 and Q4 should demonstrate improvement quarter over quarter as revenue is recognized from the two cities and we bring online Cambridge as well. This marks the beginning of a significant growth period in which Lite Access will be delivering on its backlog."
"By summer 2020, CityFibre plans to award more than £1.5 billion in network construction contracts for newly announced full city builds, enabling selected construction partners such as Lite Access to secure and mobilise their workforce in preparation for network construction to begin."
"Lite Access has reached major contract milestones and has developed a strategy to capitalize on the identified opportunities, focusing on revenue growth, profitability and cash flow. The Company's specific priorities include a commitment to health & safety, reliability, operational excellence and capital discipline to achieve and sustain strong operational and financial performance."
"Our balance sheet is solid, our team is committed to optimizing operations to ensure we meet our targets, and we are moving ahead aggressively with our growth strategy," noted Mr. Shimoon. "We have consistently demonstrated capital discipline, and we continue to find ways to optimize field operations to improve process efficiency and customer satisfaction. Our contract backlog remains healthy and we hope to continue to increase it. As we move into the back half of fiscal 2020, we anticipate significant revenue increases and improved EBITDA growth over the course of delivery. We believe this will provide shareholders with visibility to materially increasing value for many quarters to come."