eir sees growth in profits and subscriber base

Business, Technology | Wed 13 Sep | Author – Business & Finance man financial planning profits

The Irish telecommunications business has seen its profits rise to €520 million, a 4% increase, for the full year to the end of June.

eir’s rise in profits and its customer base is correlated with an increase in broadband connections to 896,000 with over 550,000 customers signed up. In the advent of decreasing television viewing, eir has seen an increase in that particular subscription base, too, by 17,000 customers to 71,000 total.

With mobile such a competitive industry, eir still holds over a million customers with half a million on pay-as-you-go services.

Chief Executive Officer Richard Moat, said: “Last week we rebranded our stand-alone mobile business from Meteor to eir, which better supports our divergence strategy.”

Over the last number of years, along with rebranding and restructuring their services, eir has been involved in cost-cutting to meet the ever-stringent demands of this competitive sector. It has reduced its cost base by €26 million in offering voluntary redundancy packages including new schemes for employees.

This has culminated in cost savings of €23 million and its fibre broadband service installed into 1.7 million homes across the country.