mmO2 predicts better than expected 2Q and full-year growth

30 Sep 2003

mmO2, the former mobile arm of UK incumbent BT, has said it expects strong customer growth and a boost in average revenue per user (ARPU) for its fiscal second quarter of 2003. The cellco said that it is on track to meet its full year financial targets and is to report 2Q revenue growth at its UK business in the ‘mid-teens’, ahead of the previous target of 10%, when it announces its results for the six months to the end of September 2003 on 17 November. It did, however, warn that UK growth would slow in the second half of the fiscal year as the government presses for cuts in mobile termination charges. mmO2 said that its expects continuing impressive performance at its loss-making German business to help counter slowdown in the UK and also announced that it expected capital expenditure for the year would be between 5% and 10% lower than the GBP1.3 billion earmarked at the start of the year.

United Kingdom