Eircom rings up loss of €104m after 2001 profit of €66m

EIRCOM’S fortunes have dipped sharply since it was bought by Dr Tony O’Reilly and US private investors in November 2001.

Figures released yesterday show the fixed-line operator made a loss before tax of €104 million in the 12 months to March 31 2002. That compares with profits of €66m in the previous financial year.

Eircom chief executive Dr Philip Nolan last night called for an end to regulation. Figures released by the group show the company is continuing to lose ground to mobile operators. Eircom’s share of voice market has fallen to 38% against 52% for the mobile operators with the rest controlled by others in the market.