Business

Milne promises big black figures

It`s still burning money as if it grew on trees, but new CEO Andrew Milne reckons M-Web`s profitability will come in the next two years.

02 September 2002

With Antonie Roux now officially out of the picture as he leads Naspers`s Internet interests worldwide, the reins of M-Web have been handed to ex-COO Andrew Milne. While the company seems to have turned the corner, moving away from the record-breaking losses it racked up over the past few years, it is still a good R300 million away from profitability.

Those losses are down to a mere R333 million this year, and Milne sees black on the distant horizon. To get there, M-Web intends to increase its business user base – a mind-shift for the company that has tried desperately, but unsuccessfully, to make the dial-up ISP business work since 1997.

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