Ireland’s troubled fixed line and mobile operator Eircom yesterday published an update on its financial and business plan to June 2017 to its lenders along with estimated results for the month of December 2011. In a statement the firm said: ‘As expected, the estimated consolidated EBITDA for the six months through December 2011 shows a significant reduction in performance compared to the corresponding period in 2010. The results are also behind the results budgeted for the six months through December 2011 and the ability of cost control to compensate for declining revenue is diminishing.’ The telco stopped short of publishing the actual rate of the decline, or indeed the actual amount of EBITDA generated in what was the first six months of its current financial year.
Taken from:
OVETEL Eircom issues trading update; reports ‘sharp decline’ in EBITDA in 2H11
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