Eircom Group profits up

Eircom Group profits up

The dominating player in the Ireland’s fixed-line telephone services market Eircom Group has said in a statement that its full-year net profit rose 3.8 percent from the previous year. The announcement was delayed due to reports in the media related to a possible acquisition deal related to the company.

The company added that its net profit for the fiscal year ending March 31 rose to euro 82 million. This is up from euro 79 million in the previous year.

The sales were up at euro 1.693 billion from euro 1.60 billion the previous year. The company is currently talking with Babcock & Brown for a possible takeover bid worth around euro 2.36 billion. However, not much was revealed by the company on this front. Company’s Chief Executive Philip Nolan said about the rumors floating in the market: “We can’t really go any further than that at this stage.”

Eircom also said that they are working hard on expanding the availability of broadband services around the nation. They already have more than 250,000 broadband customers.