Menu
11/11/2004
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. However, year-on-year BT profits before taxation fell by 4% to £983 million.
The boost in turnover helped lower the group's net debt by 6% on the previous year to £8.27 billion.
The report noted that the number of broadband users had reached 3.3 million, with a record high of 607,000 DSL connections made in the three months to September.
Commenting on the group's results in the second trading quarter, BT Chief Executive Ben Verwaayen, said: “The 36% growth of new wave revenues helped us deliver the best underlying revenue growth in almost three years. We continue to improve earnings per share, up 9% before goodwill amortisation and exceptional items.
“We are winning business across the globe and responding innovatively to an intense competitive environment, particularly in the UK. Our agreement to acquire Infonet is another step in BT’s transformation into a leading provider of IT and networking services.
“We now have more than 3.3 million broadband DSL customers, with the latest million connections achieved in less than six months, which is a new connection every 15 seconds."
The BT Chief Executive said that the results demonstrated a "continuing ability to improve earnings whilst building for the future".
In November, BT signed to acquire the international managed voice and data network service provider Infonet for £520 million. BT said this acquisition marked a "significant step forward in BT’s strategy of addressing the IT and networking services needs of multi-site companies and organisations".
Turnover from BT's traditional business sectors such as land-line telephony declined by 6% in the last year.
(SP/GMCG)
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. However, year-on-year BT profits before taxation fell by 4% to £983 million.
The boost in turnover helped lower the group's net debt by 6% on the previous year to £8.27 billion.
The report noted that the number of broadband users had reached 3.3 million, with a record high of 607,000 DSL connections made in the three months to September.
Commenting on the group's results in the second trading quarter, BT Chief Executive Ben Verwaayen, said: “The 36% growth of new wave revenues helped us deliver the best underlying revenue growth in almost three years. We continue to improve earnings per share, up 9% before goodwill amortisation and exceptional items.
“We are winning business across the globe and responding innovatively to an intense competitive environment, particularly in the UK. Our agreement to acquire Infonet is another step in BT’s transformation into a leading provider of IT and networking services.
“We now have more than 3.3 million broadband DSL customers, with the latest million connections achieved in less than six months, which is a new connection every 15 seconds."
The BT Chief Executive said that the results demonstrated a "continuing ability to improve earnings whilst building for the future".
In November, BT signed to acquire the international managed voice and data network service provider Infonet for £520 million. BT said this acquisition marked a "significant step forward in BT’s strategy of addressing the IT and networking services needs of multi-site companies and organisations".
Turnover from BT's traditional business sectors such as land-line telephony declined by 6% in the last year.
(SP/GMCG)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
07 November 2002
Labour Turnover survey shows marked slowdown
The latest Chartered Institute of Personnel and Development's (CIPD) Labour Turnover survey has shown a marked decrease in labour turnover in 2001. The survey found an overall labour turnover rate of 18.2%, which is a return to the pattern shown since the survey began in 1995. The rate was almost exactly the same as 1999, but well down on the 26.
Labour Turnover survey shows marked slowdown
The latest Chartered Institute of Personnel and Development's (CIPD) Labour Turnover survey has shown a marked decrease in labour turnover in 2001. The survey found an overall labour turnover rate of 18.2%, which is a return to the pattern shown since the survey began in 1995. The rate was almost exactly the same as 1999, but well down on the 26.
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.
06 February 2004
Failure to monitor British Energy's problems, say NAO
The government failed to monitor troubled nuclear power station operator British Energy closely enough as financial problems within the company grew, the National Audit Office (NAO) has said.
Failure to monitor British Energy's problems, say NAO
The government failed to monitor troubled nuclear power station operator British Energy closely enough as financial problems within the company grew, the National Audit Office (NAO) has said.
07 November 2005
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
04 May 2005
Waterford Wedgwood to cut 1,800 jobs
Waterford Wedgwood has announced plans to cut 1,800 jobs as part of a 90 million euro restructuring programme. The fine crystal and china makers said that the jobs losses would include the loss of 485 jobs at the Dungarvan plant in Ireland, which is to close after being in operation for over 30 years.
Waterford Wedgwood to cut 1,800 jobs
Waterford Wedgwood has announced plans to cut 1,800 jobs as part of a 90 million euro restructuring programme. The fine crystal and china makers said that the jobs losses would include the loss of 485 jobs at the Dungarvan plant in Ireland, which is to close after being in operation for over 30 years.
-
Northern Ireland WeatherToday:Early mist and fog clearing to leave a dry and mainly sunny day, although patchy cloud possible through County Down. Warmest in the west with light east or northeast winds. Maximum temperature 20 °C.Tonight:Dry and bright at first but some areas of low cloud developing through the evening and overnight, particularly over southern counties and the north Antrim hills. Minimum temperature 10 °C.
