London, Mar 12: Orange Plc, Britain's youngest mobile telephone company, on Thursday said its 1997 pre-tax loss narrowed by 39 per cent to 139.1 million pounds ($229 million) as revenues jumped.The result was marginally better than forecast by most analysts and the company, which is 49 per cent-owned by Hong Kong conglomerate Hutchison Whampoa Ltd, also posted a 48-per cent jump in turnover to 914 million pounds.
Subscriber numbers rose by 53 per cent to 1.2 million by the end of last year, giving the purely digital operator a market share of 14.2 per cent.
The group, one of four British cellular companies, reported that average revenues per subscriber had risen by 11 per cent to 498 pounds per year -- but gave no hint in its results statement about any imminent price cuts.
Group managing director Hans Snook said in a statement:
"During 1998, we will continue to put in place the steps to lead the market and ensure that Orange continues to develop its business to the benefit of customers and shareholders alike."
Analysts have noted that Orange has not changed its tariffs since it started an aggressive marketing campaign in 1995. Prices had been at the low-end of the market, but recent tariff cuts by market leader Vodafone Group Plc have left it looking less competitive.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
