O2 FY profits up on smartphone adoption

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O2 FY profits up on smartphone adoption

Alex Scroxton
Spanish-owned UK mobile operator O2 outperformed the rest of the market in 2009 - largely thanks to its formerly-exclusive contract the sell the Apple iPhone, as well as a huge ramp up in text message revenues and growth in the contract segment.

Sales at the UK unit were up 3.5% on 2008, hitting €6.51bn (£5.93bn), while operating income before depreciation and amortisation hit €1.68bn, up 2.3% over 2008 in local currency.

Excluding its Tesco Mobile spin-off, O2's total mobile customer base hit 21.3 million lines, a 5.1% increase year-on-year, cementing its leadership of the UK market. O2 said that targeted customer retention activities were also helping keep churn to its lowest level ever.

Parent Telefónica saw its full year net profit rise 2.4% to €7.7bn, while 12 month sales dipped just over 2% to €56.7bn

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