Plusnet downloads record £43m profit

The Sheffield-based internet service provider Plusnet has seen profits soar by 35% this year.

Plusnet has reported record profit after tax of £43.4m for the year ended March 31st, up from £29.2m in the year previous. Turnover grew 18% in the same period and customer numbers have grown by 13%. Employee numbers have also grown by 8% to 1,200; with 1,000 based in Sheffield in the Balance office block on Trippet Lane, and 200 in Leeds. The figures solidify Plusnet’s position as the largest tech firm in Sheffield.

Paula Smith, Finance Director, said she was “extremely satisfied and proud” of the results.

The firm has capitalises on its Yorkshire roots, spending millions on a national advertising campaign to promote its Northern background. It also sponsors Sheffield Half Marathon and the Yorkshire Marathon.

Paula Smith added: “I think everyone associates Yorkshire with honesty and straight talking. People can relate to that. Trust is critical in terms of acquiring and retaining customers.”

The latest figures have also shown that Plusnet paid £10.8m in corporation tax and has paid wages of £30.5m, including pension contributions.

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