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THIS YEAR’S VIOLENT winter storms cost eircom €10 million in one-off network repair costs, the telecoms operator said today.
The group reported a five per cent drop in revenues for the first quarter of the year to €315 million, which it blamed on the repair costs.
Profit before deductions was stable at €119 million for the first three months of the year, with the company again blaming the poor winter weather for the lack of growth.
Job cuts
Employee numbers at the former semi-state giant continue to drop in line with a cost cutting plan. Just over 1,700 workers left the group since the start of 2013, with a further 200 set to exit before the end of this year.
Operating costs have come down by €100 million, while the telecoms operator was forced to make a provision of €7 million to pay a fine threatened by the regulator for failing to fix faulty phone lines.
Flotation on the cards
The company also indicated that it is still poised to go ahead with its planned floatation on the stock exchange, which would be its third listing in fifteen years.
The group chief financial officer Richard Moat said: “In conjunction with our advisors, we are now exploring a number of strategic options with a view to further strengthening the financial position of the company.”
Morgan Stanley and Goldman Sachs were appointed to advise on listing options last month.
Eircom also said that it has successfully rolled out 4G super-fast mobile internet to 50 per cent of customers, and has increased its bill pay user base to 39 per cent from 31 per cent last year.
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These floods have been going on for the last 3 days and the journal are the first to do a story on it, nothing in any of the other news sites
They’re trying to find a way to link it to Putin first.
Sad
You would think that when you can’t see the massive propaganda against Russia at the moment.
Do you actually believe that they are trying to link Rainfall to Putin?
No it was a joke ffs…
Albeit a bad one at that.
Joe, congratulations for being the first to link this to Putin.
Thank you Journal for sharing story on this. I contacted you last night about it so is very appreciated. I hope you keep covering it as situation is very bad and people need help. Badly. We are trying to organise something from Ireland but we have very little knowledge how to do it except privately sending small amounts of money which is not really help in moment as they need water, food, nappies etc for next few nights. Looks like all help or most of it is coming from few countries ( Russia among first) and ex Yugoslavian from other countries. Croatia and Slovenia send help as well even there is big risk in Croatia for same happening to them. Any further media cover keep donation to this people so thank you very much for it.
They need to get going on climate change mitigation soon as the situation is not going to get any better – it is not as if this was not predicted with a warming climate in the region. Big floods in Germany around the Danube last year when I was there too. Warmer air holds more moisture and leads to heavier rain and more storms – one of the basics of climate and meteorology. Every country needs to start mitigation work against the worst effects of climate change, because it is here now and it is not going away.
Geo engineering at its evil best
Proof?
have your say