Esat BT reveals €60m Q4 turnaround

Esat BT today announced that it had achieved its full-year target to become EBITDA positive, with positive earnings of €18.5m for the year ended March 31, 2003.

This represents a significant turnaround for the company, which last year posted losses of €47.5m.

Speaking earlier today, Esat BT CEO Bill Murphy said: "This is an extremely impressive reversal for the company. We started the financial year with huge challenges, and 12 months on, I'm very pleased with where we are in delivering on our promises.

"Aside from the superb financial out-turn, we have had an excellent year in positioning Esat BT as the industry leader.

"We have been part of the solution rather than the problem when it comes to the broader communications agenda, be that broadband for Ireland or FRIACO for consumers, or continually driving for competition and choice".