Mobile phone retailer EE has reported widening losses after investing in a rebrand of the Orange and T-Mobile store estates last year.
The retailer recorded a pre-tax loss of £249m in the year to December 31, down from a £113m loss the previous year.
Revenue for the year fell to £6.66bn pounds from £6.78bn the previous year. Adjusted EBITDA, excluding restructuring costs, brand and management fees, was flat at £1.41bn.
The business invested in rebranding its entire estate as EE from its former T-Mobile and Orange fascias in one night in October last year.
Regulation brought in last year by to place price caps on mobile data roaming charges across the EU also dented profits.
EE revealed last month it is to close 11% of its UK store estate following a review of its retail operation with 78 of its 700 shops set to close before the end of April.
The mobile phone retailer is closing shops in areas where it now has multiple stores.
EE will be left with 626 stores, which puts it as the third largest mobile phone specialist on the high street behind Carphone Warehouse and Phones4U.
EE chief executive Olaf Swantee said: “In the past year, we delivered solid financial performance, underpinned by good progress integrating the business and success in attracting high value customers. At the same time, we built a strong platform for growth, launching a new company, new network, new customer brand, new retail estate and being the first to provide UK consumers and businesses with 4G mobile services alongside fibre broadband.”