UK O2 pays staff bonus prior to Reuters merger of Virgin Media

© Reuters. File Photo: On January 23, 2015, a woman talks on her cell phone outside an O2 shop in Loughborough, central England. REUTERS / Darren Staples / File Photo

London (Reuters)-British mobile operator O2 reported record high profits in the first quarter prior to the merger of Liberty Global (NASDAQ :) with Virgin Media, giving staff £ 1,930 ($ 2,709). Announced to pay the bonus. ..

Mark Evans, CEO of Telefonica’s O2, said the company’s 6,500 staff efforts during the pandemic boosted revenues, hitting a record high of 36.6 million connections on the network in the January-March quarter. Said it pushed up to. ..

He said revenue was also boosted by increased direct distribution and use of digital channels such as apps to improve customer service.

He said the pandemic put pressure on the top line, primarily due to lost roaming revenues and store closures. Revenues decreased 9.4% year-on-year in the quarter, while revenues, or operating income before depreciation, increased 7.6% to £ 478m.

“Since April (12th), the store has been open and we have seen a significant recovery,” he said in an interview with Reuters.

Evans leaves O2 when the merger receives final regulatory approval. Lutz Schuler, Virgin Media’s boss, will lead the integration group.

($ 1 = 0.7124 lbs)

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UK O2 pays staff bonus prior to Reuters merger of Virgin Media

Source link UK O2 pays staff bonus prior to Reuters merger of Virgin Media

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