Investors have little Affinity for telco stock

NEWS Shares in UK telco Affinity Internet have fallen almost eight per cent on year end results which show widening losses. This is despite the fact the firm managed to more than treble its revenue in a year that saw many others in the same market go under. Affinity Internet's losses increased to £30.1m before tax, compared to £26.1m the previous year. However, revenues jumped to £52.8m compared to £11.3m in 2000 on increased sales of fixed line telephony, with many customers gained by buying up the users of defunct telcos and ISPs at rock-bottom prices.