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Friday, July 27, 2012

Everything Everywhere says latest half-year results show 'solid commercial performance'

Everything Everywhere has published interim results for the first six months of this year.

Service revenue for the six-month period until the end of June 2012 was £2,989 million. That’s a 1.8% drop year-on-year, although removing the effect of Ofcom’s mobile termination rate cuts would show a 3.1% increase.

The Orange and T-Mobile ‘pay monthly’ customer base increased by 150,000 people in the second quarter of 2012, which is 36% down year-on-year. However, the number of prepaid customers fell by 313,000. This means the proportion of customers on post-paid contracts has increased to 50%, up from 46% in Q2 2011. .

72% of ‘pay monthly’ Everything Everywhere customers now have a smartphone, with 91% of new postpaid customers selecting smartphones.

Olaf Swantee, Chief Executive Officer of Everything Everywhere, said “In the first half, we delivered a solid commercial performance, with good underlying revenue growth. We are making strong progress integrating the legacy Orange and T-Mobile businesses to create cost efficiencies and deliver planned synergy targets, while investing in significant network upgrades to further improve our customer experience.”

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Author: The Fonecast
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