Feeds

Market pans MMO2 results

Big Bother

  • alert
  • submit to reddit

Reducing security risks from open source software

MMO2 saw its shares slide this morning as BT's former wireless division posted its first full year results.

Turnover for the year to March 31 rose 11 per cent to £4.28 billion although some analysts were disappointed that the growth was not higher.

Pre-tax loss rumbled in at £873 million.

The number of MMO2 customers increased by 12 per cent to 17.5 million and it claims to have halted a decline in the amount of revenue it gets from each punter.

Revenue generated from data services more than doubled during the year accounting for 11.7 per cent of service revenues.

Oh, and mmO2's customers sent more than 5.3 billion text messages during the year.

Said David Varney, chairman of mmO2: "Our market environment remains challenging, with subscriber growth slowing and the market for mobile data services still in its early stage of development.

"We believe mmO2 has the right strategy and is well positioned for the next phase of industry growth, driven by customer demand for new mobile data services," he said.

MMO2 also used the publication of its full-year results to talk about its O2 branding launched this month. Apparently, the brand conveys "freshness, life, freedom, and clarity". Freshness? Freedom?

Hang on, isn't this the company that sponsors the current Big Brother show in the UK and involves depriving people of their freedom?

By late morning shares in MMO2 were down 15 per cent (7.25p) at 41p. ®

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.