O2 publishes half year results

Telefónica UK Limited (O2) has posted its half year results to 30 June 2020, showing a slight revenue decline of 1.1% and profitability of -1.6%.

The company says it also grew its base to 34.1 million (up 2.5%), representing YoY customer growth and churn down to just 0.9%. It has also improved connectivity, boosted coverage, invested in digital skills training and supported customers during the ongoing Covid-19 pandemic.

Ahead of the summer, O2 has also boosted 4G in over 91,000 postcodes and 400 “tourism hotspots”.

Mark Evans, O2 CEO, said, “The impact of the Covid-19 pandemic has been devastating for many families, communities and businesses right across the UK. As the UK’s No1 mobile network for customers, we have naturally provided additional support to our customers at such a critical time, while continuing to invest in and grow our network, maintaining market-leading levels of customer loyalty and satisfaction.

“Now we’re focused on playing an even bigger role in getting the UK back on its feet. During the pandemic we have doubled our network capacity to meet demand, improved coverage across rural locations and supported our NHS with training venues and devices.”

The company has reported that its 5G rollout is ahead of target, with 5G now available in 60 towns and cities. O2 has also launched an LTE-M network to support Britain’s digital leadership by powering ‘Internet of Things’ (IoT) technology. It has 10,000 LTE-M sites operational in the UK.

Evans added, “We’re acting as a force for good - setting a higher bar for connectivity, service and support for all our customers - and today we’re going further, announcing permanent free access to support websites including the NHS and Samaritans and new virtual 121 appointments with our Gurus. We’re also investing in digital skills training for thousands of our retail colleagues.

“Connectivity has never been more important, and we know that O2 is at the forefront of one of the UK’s most valued services. We will power this country into recovery and work to rebuild Britain.”