Eircom revenues and costs diminish

Eircom has admitted that significant challenges remain in its efforts to turn around both its consumer and corporate divisions, but said it has made further progress on reducing its operating costs.

Yesterday, the former State-owned telecommunications company reported first quarter earnings before interest, tax, depreciation and amortisation (Ebitda) of €119m — in line with its own expectations but still down 1% on a year-on-year basis.

Group revenue for the three months to the end of September was €323m, representing a €32m or 9% decline on the same period last year, but operating costs were further reduced by 13%.