Hull-based communications firm KCOM said its revenue fell 5.15% to £331.3 million in the year to March 31 “due to the continuing decline of legacy network contracts.”

KCOM said its reported profit before tax plummeted 65.6% to £30.5 million depressed by higher depreciation and amortisation charges “following increased investment in recent years.”

KCOM chief executive Bill Halbert said: “We are reporting another period of strategic and operational progress and remain focused on continuing to reposition the business as a provider of fibre-enabled services and IP-based solutions.

“Our fibre deployment in Hull & East Yorkshire remains on schedule to reach 150,000 premises by December 2017 and we continue to see high levels of customer take-up.”