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08/11/2001
BT reports second quarter losses of 1.3bn
Telecommunication giant BT has announced its results for the second quarter of the financial year, revealing losses of around £1.3 billion to the end of September.
While the sharp decline in the company’s profits can be pinpointed to the recent closure of a subsidiary – the corporate telecoms service venture Concert - the figure still falls below the amount predicted by most city analysts.
BT has also confirmed that its finance director, Philip Hampton is to step down next year. Mr Hampton is generally considered as the mastermind behind the company’s recent restructuring strategy, which has been BT’s debt mountain slashed in half, from a high of almost £30 billion. In leaving the company, Mr Hampton also joins chief executive Sir Peter Bonfield, who last week announced his decision to stand down, a year earlier than expected.
The focus will now fall on the fortunes of BT’s new wireless subsidiary, MMO2, which has now received shareholder approval. The demerger is set to happen on November 19, and BT has reported strong subscriber growth for the venture.
However, BT shares fell by six per cent before trading commenced on Thursday, and analysts have issued continuing warnings about the company’s ‘aggressive’ approach to demerging its array of businesses. (CL)
While the sharp decline in the company’s profits can be pinpointed to the recent closure of a subsidiary – the corporate telecoms service venture Concert - the figure still falls below the amount predicted by most city analysts.
BT has also confirmed that its finance director, Philip Hampton is to step down next year. Mr Hampton is generally considered as the mastermind behind the company’s recent restructuring strategy, which has been BT’s debt mountain slashed in half, from a high of almost £30 billion. In leaving the company, Mr Hampton also joins chief executive Sir Peter Bonfield, who last week announced his decision to stand down, a year earlier than expected.
The focus will now fall on the fortunes of BT’s new wireless subsidiary, MMO2, which has now received shareholder approval. The demerger is set to happen on November 19, and BT has reported strong subscriber growth for the venture.
However, BT shares fell by six per cent before trading commenced on Thursday, and analysts have issued continuing warnings about the company’s ‘aggressive’ approach to demerging its array of businesses. (CL)
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24 August 2001
BT comes under pressure from Oftel
British Telecom (BT) has come under pressure from telecommunications regulator Oftel to improve access to its lines for rival operators. Oftel has intervened to determine the service levels that BT must offer to other operators wanting to unbundle BT local loops and the compensation the company must pay if it fails to meet those levels.
BT comes under pressure from Oftel
British Telecom (BT) has come under pressure from telecommunications regulator Oftel to improve access to its lines for rival operators. Oftel has intervened to determine the service levels that BT must offer to other operators wanting to unbundle BT local loops and the compensation the company must pay if it fails to meet those levels.
11 November 2004
New wave turnover sustains BT profits
A new wave of hi-tech turnover including broadband connections has helped BT to hold the line on profits. In its quarterly report published today, BT Group reported that turnover for the year was up 1%, at £9.2 billion. Most growth was in what BT described as "new wave" turnover that increased by 34% in the year to reach £1,969 million.
New wave turnover sustains BT profits
A new wave of hi-tech turnover including broadband connections has helped BT to hold the line on profits. In its quarterly report published today, BT Group reported that turnover for the year was up 1%, at £9.2 billion. Most growth was in what BT described as "new wave" turnover that increased by 34% in the year to reach £1,969 million.
13 February 2003
Slips and falls cost business £8m a year
Slips and trips at work cost a staggering £8 million per year to Northern Ireland employers and society in general, according to the Health and Safety Executive for Northern Ireland (HSENI).
Slips and falls cost business £8m a year
Slips and trips at work cost a staggering £8 million per year to Northern Ireland employers and society in general, according to the Health and Safety Executive for Northern Ireland (HSENI).
18 July 2001
UK UNEMPLOYMENT FALLS TO 25 YEAR LOW
THE rate of unemployment in the UK has fallen to its lowest level in 25 years. The Office for National Statistics (ONS) has revealed a drop in jobless figures for the eight consecutive month, with unemployment now standing at just over 960,000, following a decline of 12,000.
UK UNEMPLOYMENT FALLS TO 25 YEAR LOW
THE rate of unemployment in the UK has fallen to its lowest level in 25 years. The Office for National Statistics (ONS) has revealed a drop in jobless figures for the eight consecutive month, with unemployment now standing at just over 960,000, following a decline of 12,000.
23 October 2001
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
