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Earnings increase at Eir as operating costs decline

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Eir boss Carolan Lennon

Eir boss Carolan Lennon

Eir boss Carolan Lennon

Earnings at Eir have increased 4pc to €441m in the nine months to March 31, as operating costs declined.

During the period costs reduced by 8pc to €287m, according to a trading update.

However, revenue at the country’s largest telecoms firm fell by 2pc to €924m.

Eir said the performance was “in line with expectations.”

Looking at the third quarter, turnover declined by 1pc or €3m year-on-year, while earnings increased by 5pc or €7m.

The company saw consistent “solid growth” in its key performance indicators, with strong year-on-year increases in fibre broadband and postpay mobile customers.

Eir also reported quarter-on-quarter growth in TV customers, and continued growth in multi-play product bundling.

Carolan Lennon, Eir chief executive, said: “We will continue our dedicated and determined work to ensure our network keeps Ireland connected, and we will continue to support our customers as we all adapt to new challenges and experience change.”

“Our investment programme will continue in the coming months, where it is safe to do so, with plans to roll out 5G to every major town in Ireland and continue passing more homes and businesses with superfast fibre to the home broadband.”

Over 97pc of Eir’s staff have been working remotely or in the field due to Covid-19, and it has closed all but one of its Dublin offices.

Last month the company announced substantial price cuts on its fastest broadband products.

Online Editors