Business Irish

Friday 24 November 2017

Telefonica service revenue falls 10pc

TELECOMS

SERVICE revenue at Telefonica Ireland -- the company that operates the O2 brand here -- declined almost 10pc in the first six months of the year to €352m, but the company said it had experienced strong growth in smartphone and broadband usage among its subscribers. Releasing half-year results yesterday, Telefonica Ireland said its total customer base at the end of June stood at 1.68 million. Operating income before depreciation and amortisation (OIBDA) at Telefonica Ireland fell 11.8pc in the first half to €112m.

Providence charts Porcupine for wells

EXPLORATION

PROVIDENCE Resources says it has successfully completed a three-dimensional seismic survey of the Porcupine Basin as it pushes ahead with the largest exploration programme in Irish history. The survey, which covered an area close to the Spanish Point and Burren discoveries, has taken just eight days. Providence and its partners plan to invest up to €349m in the drilling of 10 exploration and development wells.

Elsevier records €18.3m profits

PUBLISHING

THE Irish arm of publishing giant Elsevier -- which is winding down its operations here with the loss of 100 jobs -- remains highly profitable, recording pre-tax profits of €18.3m last year, figures show.

Irish Independent

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