Eircom reports 7% increase in profits

Eircom has reported a 7 per cent rise in profit over last year.

Eircom has reported a 7 per cent rise in profit over last year.

Exceptional earnings before interest, tax, depreciation and amortisation amounted to some €655 million, the group said.

Eircom's group revenue for the 12 months to the end of June was €1.982 billion, up €205 million on the previous year. This improvement was partly due to the inclusion of Meteor's revenue for a full year, Eircom said.

"On a pro-forma basis, assuming Eircom owned Meteor for the full corresponding 12-month period, the year-on-year increase in Eircom Group revenues would be 8 per cent," the company said.

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Meteor revenue, at €388 million, is up €221 million on the previous year due to strong growth in all categories.

Eircom said its revenue for the first quarter of 2007 was €500 million, up by 4 per cent on the same period last year.

Eircom said the slight drop of €5 million in fixed-line revenue to €410 million was due mainly to a reduction in voice and dial-up internet traffic revenue.