Business Services Industry
British mobile phone operator mm02 scores first profit, plans dividend.
Knight Ridder/Tribune Business News, November, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 18--MmO2 is exuding confidence by ramping up investment in its German phone network and paying a maiden dividend next summer.
Three years after it demerged from BT, analysts expect a 2 pence payout from the telecoms operator. The dividend comes just a year after O2 posted its first profit.
O2 piled on another 331,000 UK customers in the last three months, taking its total to 13.86 million.
Chief executive Peter Erskine said it would be difficult to repeat the performance in the Christmas quarter, "but our UK business does continue to surprise us."
Revenue forecasts have been upped for the second time in six weeks.
Robert Grindle, at...
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