O2 focused on ‘competing fiercely’ after 1.6% revenue hike

O2 focused on ‘competing fiercely’ after 1.6% revenue hike

O2 claims it will continue to ‘compete fiercely’ in the UK after reporting revenues of £1.4bn for Q2 2015, an increase of 1.6% year-on-year (yoy). Operating income aas up 14% year-on-year at £374m.


The company showed strong growth in total customer net additions, which were 199,000 in the quarter, boosting O2’s customer base to 24.8 million, up 4.4% yoy. This represents the sixth quarter in a row that O2 has seen a positive growth in its customer base.


Post-paid additions totalled 172,000, account for over 57% of the mobile base and boosting the network’s contract customers by 6.1% yoy. Prepay net additions accounted for 27,000 of the total figure.


The results follow comments made by Ronan Dunne, CEO Telefónica UK, who in the previous quarter announced that O2 will not be distracted by Hutchinson Whampoa’s potential takeover. Speaking about the Q2 results, Dunne reiterated this point, claiming that ‘whatever happens’, O2 will be ‘impossible to ignore.


He said: ‘These results show that we continue to compete fiercely, continue to differentiate, and continue to deliver for our customers. Whatever happens with the market in terms of competitor announcements or consolidation, we will remain firmly focused on our customers and will remain impossible to ignore.’


O2 attributed its continued strong customer growth to the appeal and flexibility of O2’s unique tariff, O2 Refresh.


The results come as Sky reported a strong performance in its end of year results. The company is set to enter the mobile market as an O2 MVNO in 2016.


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