Eircom to revise cuts after poor results

EIRCOM is to reassess its current cost-cutting programme in light of a poor trading performance for the six months to the end of December — the first half of its financial year.

The company’s revenue fell by €3 million — on a year-on-year basis — to €517m for the second quarter and was flat at €1.03bn for the first half, as a whole. For the first six months, group EBITDA (earnings before interest, tax, depreciation and amortisation) were down by 4% to €333m, while fixed-line revenue fell by 3%, on the same period last year, to €806m.

Eircom did, however, enjoy a boost to its broadband subscriber base, which rose by 46,000 to 639,000 and its mobile phone network provision arm, Meteor enjoyed a 6% EBITDA rise to €57m and a 7% jump in revenue to €255m.