Eircom group revenue down 9%

Eircom's group revenue for the first quarter ended September 30, 2009, suffered a 9% decline to €468m, it was announced today.

Group Adjusted EBITDA was €168m, down less than 1% compared to last year.

The group’s operating costs were 11% lower than last year however, reflecting significantly reduced labour costs and other operating expenses.

In the mobile market, Meteor performed well and the group’s mobile customers increased by 20,000 during the quarter, to 1,046,000.

Cash invested in fixed assets was €92m in the quarter, as eircom invested in key infrastructure programmes.

Commenting, Paul Donovan, CEO of eircom said: "The operating environment in Ireland remains challenging from an economic, competitive and regulatory perspective. Within that context, the group has delivered a set of results which underline the commitment to continued strong cost control.

"The Group continues to support the process for the sale of eircom Holdings Ltd (ERC) to STT Communications Ltd (STTC), which is due to complete on January 4, 2010.”