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Tesco Mobile Ireland books pre-tax loss in 2013

2 Jul 2014

Irish mobile virtual network operator (MVNO) Tesco Mobile Ireland went into the red in 2013, booking a full-year pre-tax loss of EUR11,000 (USD15,056) on revenue that plummeted 11% year-on-year to EUR30.2 million. In a filing to Ireland’s Companies Office, Tesco’s Irish mobile business also reported that sales costs increased sharply by 8% to EUR17.7 million in fiscal 2013, and noted that last year’s pre-tax loss included ‘combined non-cash depreciation and amortisation costs of EUR1.2 million. Further, the MVNO booked an operating loss of EUR12,000 in 2013, compared to an operating profit of EUR563,000 the year before.

According to the directors’ report, as cited by the Irish Independent, Tesco Mobile Ireland’s key business is operating in line with its business plan. ‘Due to our compelling customer propositions, we have thrived in a very competitive market,’ the company said, adding that having completed six years of trading in the Republic, the business has grown its base by 15% ‘on the back of offers which are really resonating with our customers and supported by the roll out of phone shops nationally’. Going forward, the MVNO intends to sharpen its focus on the pre-paid segment and to improve its position in the contract market too.

Finally, it notes that O2 Ireland’s share of Tesco’s mobile business in the country has now been sold to Hutchison Whampoa, owner of the 3 Ireland brand, as part of the latter’s takeover of Telefonica’s Irish business – recently approved by the European Commission.

Ireland, Tesco Mobile Ireland

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