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Unwired notches 50,000 customers

Listed wireless broadband provider Unwired has surpassed 50,000 customers, but is still well short of its own targets required for it to break-even. In documents filed with the Australian Stock Exchange today, Unwired said it had increased its customer base by 13 percent in the quarter ending 31 March.
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Written by Steven Deare on
Listed wireless broadband provider Unwired has surpassed 50,000 customers, but is still well short of its own targets required for it to break-even.

In documents filed with the Australian Stock Exchange today, Unwired said it had increased its customer base by 13 percent in the quarter ending 31 March.

The company reported AU$7.051 million in customer revenue. However, the company has said previously it needs 70,000 customers in Sydney alone if it is to reach break-even point.

The telco recently began offering its service in parts of Melbourne. As a result, working capital costs increased to AU$3.913 million (compared to AU$2.881 million the previous quarter).

"This reflects an increase in desktop modem and wireless card stock levels in preparation for the Melbourne launch," chief executive David Spence said in the filings.

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