Restructuring costs hit eircom profits

Eircom has reported pre-tax losses of €16m for April, May and June. Today's results are eircom's first set since flotation.

Operating profit before factoring in restructuring programme costs was up 86% to €65m. The restructuring at the company led to a charge of €48m in Q1 to reduce headcount by about 400. The company's balance sheet was further weighted by interest payments on its near €2bn debt.