Tuesday, 31 March 2009

Tiscali reports increase in net loss during FY 2008 – Italy

Tiscali, a leading Italian ISP with an MVNO agreement with Telecom Italia, reported an increase in its net loss to EUR 242.7 million (USD 322.62 million) for 2008 from EUR 65.3 million (USD 86.80 million) in 2007. Though, the revenues of the company increased 11.4% to reach EUR 983.6 million (USD 1,307.49 million). Tiscali’s revenues in Italy, its home market, also registered an increase of 7.4% to EUR 313.5 million (USD 416.73 million) in 2008.

According to Tiscali, the company will focus on the simplification of the product portfolio and other ‘value for money’ propositions, such as double-play and MVNO activities, improving customer channels and management, increasing network capacity and reducing operating costs within Italy.