Saturday 25 November 2017

Eircom reports first quarterly revenue growth in seven years, plans to rebrand

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Turnover at Irish telecommunications firm Eircom rose by 5pc to €325m in the three months to the end of June compared to the same period in 2014.

The growth recorded in the period, which is the fourth quarter of the group's financial year, was the first quarterly year on year growth that the company recorded in seven years.

Full year sales at the firm stood at €1.26bn, down 1pc compared to the year before although earnings before deductions were up by 3pc to €481m.

Operating costs at the firm dropped by 7pc to €512m.

Eircom chief executive Richard Moat said that the year had been a "transformative" one for the company.

"Our significant investment programme has continued with over €290m invested during the past financial year, part of more than €1bn invested over the past three years," he said.

He also announced the company's intention to rebrand and said that more details will be revealed "over the coming weeks".

"The decision to launch a new brand underlines the extent to which the company has evolved our commitment to Ireland and our ambition for the future,” he said.

The total group broadband customer base was 782,000 as of the end of June, up by 16,000 in the quarter and 64,000 in the full year period.

The retail broadband base declined by 2,000 in the quarter to 454,000 while the wholesale business grew by by 18,000 during the quarter and 66,000 during the year to 328,000 lines.

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