Cost cutting helps increase earnings at Eir

Cost cutting of €12m helped increase earnings at Eir.

The telecommunications firm, which was acquired by French billionaire Xavier Niel in 2017, reported earnings of €140m in the three months to 30 September, up 2pc year-on-year.

However, revenue declined by €8m to €304m.

Meanwhile, the company’s cash increased by €61m to €231m at 30 September.

In the last three months Eir launched GoMo, offering 80GB of data, plus all calls and texts, for €10 per month for the first 100,000 customers.

It also announced a revamped TV service.

Elsewhere, in October Eir’s 5G network launched in 10 major towns and cities across Ireland, providing customers with speeds up to 1Gbps.

Carolan Lennon, Eir chief executive, said the company’s €1bn investment programme “is now bringing very visible benefits to our customers.”

“The scale and quality of our plans and our products confirms Eir’s position as Ireland’s largest, but also most innovative, investor in telecoms, offering the most advanced fixed and mobile networks and connecting customers across the country at the fastest speeds possible.”

During the three month period broadband customers at Eir increased by 2pc to 945,000.

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