Menu
14/11/2005
O2 announces rise in profits
Mobile phone company 02 has announced a rise in profits and an increase in its customer base.
The firm reported an increase of 12% in group turnover, rising to £3.6 billion, while pre-tax profits also increased by 15%, rising to £975 million.
Customer numbers also rose by 17%, increasing to 25.7 million.
Sir David Arculus, Chairman of O2, described the figures as a “good performance”. He said: “Over the last year, group cash flow has strengthened and underlying earnings have increased by 21%. The Board is pleased to confirm that we will pay an interim dividend of 1.54 pence on December 2.”
The results follow the recent announcement that O2 had accepted a £17.7 billion takeover offer by Spanish firm Telefonica.
O2 performed well in both the UK and Germany – two of the busiest telecoms markets. In the UK, pre-tax profits increased by 2.9% to £598 million, while the customer base grew by 8.9% to 15.09 million.
In Germany, O2 saw its customer base increase by 34% to 8.95 million, while pre-tax profits rose by 51% to £246 million.
Peter Erskine, Chief Executive of O2, said that the results had been received in spite of “intense competition”. He said: “All our mobile businesses delivered strong, high quality customer growth in the first half. In the UK, our customer plan was successful in both retaining existing customers and acquiring new customers. The recent launch of I-mode, along with the opening of our new call centre in Glasgow, will help us continue to differentiate our brand and service.
“In Germany, we are seeing continued strong growth in a competitive market. We added almost 1 million customers in the first half, 41% ahead of last year, driven by our strong brand, new propositions and tariffs and our Tchibo Mobile joint venture.”
O2 also confirmed that its Airwave unit - which offers communications services – secured contracts with the English Ambulance Trusts and the National Fallback Service, as well as also being selected as the preferred bidder for the nationwide Fire and Rescue Service contract.
(KMcA/SP)
The firm reported an increase of 12% in group turnover, rising to £3.6 billion, while pre-tax profits also increased by 15%, rising to £975 million.
Customer numbers also rose by 17%, increasing to 25.7 million.
Sir David Arculus, Chairman of O2, described the figures as a “good performance”. He said: “Over the last year, group cash flow has strengthened and underlying earnings have increased by 21%. The Board is pleased to confirm that we will pay an interim dividend of 1.54 pence on December 2.”
The results follow the recent announcement that O2 had accepted a £17.7 billion takeover offer by Spanish firm Telefonica.
O2 performed well in both the UK and Germany – two of the busiest telecoms markets. In the UK, pre-tax profits increased by 2.9% to £598 million, while the customer base grew by 8.9% to 15.09 million.
In Germany, O2 saw its customer base increase by 34% to 8.95 million, while pre-tax profits rose by 51% to £246 million.
Peter Erskine, Chief Executive of O2, said that the results had been received in spite of “intense competition”. He said: “All our mobile businesses delivered strong, high quality customer growth in the first half. In the UK, our customer plan was successful in both retaining existing customers and acquiring new customers. The recent launch of I-mode, along with the opening of our new call centre in Glasgow, will help us continue to differentiate our brand and service.
“In Germany, we are seeing continued strong growth in a competitive market. We added almost 1 million customers in the first half, 41% ahead of last year, driven by our strong brand, new propositions and tariffs and our Tchibo Mobile joint venture.”
O2 also confirmed that its Airwave unit - which offers communications services – secured contracts with the English Ambulance Trusts and the National Fallback Service, as well as also being selected as the preferred bidder for the nationwide Fire and Rescue Service contract.
(KMcA/SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
23 January 2002
Vodafone users reach 100 million mark
Mobile phone operator Vodafone has announced that its global customer base has reached the 100 million mark. The company, which has networks in 28 countries, said that the achievement underlined its position as the world’s mobile communications leader.
Vodafone users reach 100 million mark
Mobile phone operator Vodafone has announced that its global customer base has reached the 100 million mark. The company, which has networks in 28 countries, said that the achievement underlined its position as the world’s mobile communications leader.
25 May 2005
Millennium Dome gains £6M O2 sponsorship deal
O2, the mobile phone company, has announced it will pay £6 million pounds a year to sponsor 'The O2' as the rechristened Millennium Dome will be known from now on.
Millennium Dome gains £6M O2 sponsorship deal
O2, the mobile phone company, has announced it will pay £6 million pounds a year to sponsor 'The O2' as the rechristened Millennium Dome will be known from now on.
12 May 2011
Minister Congratulates Mivan On Contract Success
Former Enterprise Minister Arlene Foster has congratulated Mivan on securing over £30 million worth of contracts in new markets over the past six months. The Antrim-based firm operates within the construction and marine refurbishment sectors and employs over 300 people in NI and Britain.
Minister Congratulates Mivan On Contract Success
Former Enterprise Minister Arlene Foster has congratulated Mivan on securing over £30 million worth of contracts in new markets over the past six months. The Antrim-based firm operates within the construction and marine refurbishment sectors and employs over 300 people in NI and Britain.
07 November 2005
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
04 May 2005
Waterford Wedgwood to cut 1,800 jobs
Waterford Wedgwood has announced plans to cut 1,800 jobs as part of a 90 million euro restructuring programme. The fine crystal and china makers said that the jobs losses would include the loss of 485 jobs at the Dungarvan plant in Ireland, which is to close after being in operation for over 30 years.
Waterford Wedgwood to cut 1,800 jobs
Waterford Wedgwood has announced plans to cut 1,800 jobs as part of a 90 million euro restructuring programme. The fine crystal and china makers said that the jobs losses would include the loss of 485 jobs at the Dungarvan plant in Ireland, which is to close after being in operation for over 30 years.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
