On May 29th eircom announced its fourth quarter and year to date results for the financial period ending 31 March 2007.
Commenting, Rex Comb, CEO eircom,said,
"The group has delivered solid revenue growth, strong subscriber numbers and consistent EBITDA figures both in the mobile and fixed line segments for the quarter and the past financial period through 31 March 2007. Group operating profit now stands at €240 million.
Mobile subscribers have increased 33% in the past 12 months to 832,000 as of 31 March 2007. In the past quarter, 29,000 new subscribers joined Meteor, and as of 16 May 2007 there are 849,000 mobile subscribers.
In the fixed line segment, broadband take-up in Ireland continues to grow strongly and eircom has significantly contributed to its growth. An additional 57,000 DSL broadband customers joined this quarter bringing the total number of subscribers to 417,000 as of 31 March 2007, an 81% increase on the previous year. As of 10 May 2007, there are 440,000 broadband customers on eircom's network.
Following the commitments outlined in the third quarter of the financial year, the company detailed some of its commitments to network investment during the past quarter. Specifically, eircom has committed to further broadband rollout to improve broadband availability and develop a NGN core network that will provide the backbone of telecommunications for Ireland in the coming years.
The broadband debate in Ireland has significantly progressed due to a number of important regulatory agreements by eircom regarding access to the company's network. As of last week,customers can now move freely and seamlessly between various broadband providers including moving from eircom's network. In addition, eircom has agreed to implement intra-operator migrations by September of 2007.
The Group has successfully repriced its debt, which will result in savings of approximately €16m in loan interest annually, effective from the middle of June 2007.
Finally, I am delighted to announce the appointment of Peter Cross as Group CFO. He joins from BT where he is currently Director of Strategic Planning, and previously CFO for BT Openreach". -Eircom
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