Meteor bucks family revenue trend

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Incumbent Irish telco Eircom last month reported its Q4 revenues as €479 million (£422.15 million), down six per cent on last year.

The company reported full year group revenues of €1.9 billion, down three per cent on 2008. It lost 67,000 fixed line customers. A total of 270 staff have so far opted for a voluntary redundancy package as part of the company’s plan to cut 1,200 jobs by June 2011.

However its mobile arm, Meteor, reported a three per cent rise in revenue to €496 million. It recorded a subscriber increase of 38,000, bringing the total base to 1.03 million.

The network reported a six per cent decline in monthly ARPU to €37.30, which Eircom put down to more competitive promotions throughout the year.

Meteor said it also lost revenues from international calls from immigrant subscribers who had left Ireland. Contract customers accounted for 13.5 per cent of the base.

Eircom chief executive Paul Donovan said in a statement: “We are on track to remove €130 million from our annual operating costs by the end of the 2010 financial year. The economic environment is challenging, with the continuing slowdown in activity impacting both volumes and revenues. Customer growth and retention will remain key objectives for the business, which we expect to achieve through increased value and service.”

The final details of a sale of the company to Singapore Technologies Telemedia are still being ironed out by Eircom Holdings in Sydney.

 

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