Losses mount at Irish telecom

Irish-headquartered telecommunications firm Imagine Communications posted a loss of almost €8.9m in 2013 — an increase on the previous year.

The firm was founded by telecom’s entrepreneur Sean Bolger. It saw losses mount on the back of lower revenues which fell by more than €7.5m in the year to the end of December 2013.

Administrative expenses — while slightly lower than those incurred the previous year — amounted to €21.6m while the company’s cost of sales fell to €24.7m from €30.7m in 2012.