Eircom revenue plunges by €174m

Revenue and earnings down by 10 per cent and 16 per cent respectively as telecom company announces results to end of June.

EIRCOM HAS ANNOUNCED a double digit fall in revenues and earnings for the year to the end of June.

Revenues for the year to the end of June fell by €174m to €1.5bn, while the company’s earnings before interest adn tax fell by €104m to €542m.

The company continued to shed retail broadband customers but the number of mobile phone customers it had grew by 4 per cent to 1,076,000.

“The performance of the business continues to decline, but this was in line with our expectations. We must do more to retain our customers, stabilise our revenues and grow our profitability” said Herb Hribar, Eircom CEO.

He said that the telecoms market is witnessing intense competition from other operators, but that the company was endeavouring to do what it could to return to fortunes.

“Eircom will do more to fight for, retain existing customers and even win back former customers,” he said.

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