mmo2 meets market expectations

The former wireless unit of British Telecommunications and major European mobile phone company, mmO2, has said it expects its annual core earnings to meet market forecasts of £1.34bn (€2.00bn).

The group issued a trading statement ahead of unveiling full-year results on May 18, and said analysts have forecasted annual earnings before interest, tax, depreciation and amortisation (EBITDA) of £1.25-1.43bn (€1.87bn- €2.14bn).

MmO2 recently turned down a takeover offer from Dutch rival KPN and has said it expects to report a service revenue percentage growth in its British market in the mid-teens.

Revenue growth for Ireland should be broadly in line with the first half, the company said.