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.
19 May 2005
BT quarterly profits soar on 'new wave'
BT Group plc have reported a massive increase in its fourth quarter figures as the company spent less on jobs cuts and demonstrated increased sales performance. The UK's largest telecommunications company recorded a 2% improvement in turnover, which reached almost £4.
BT quarterly profits soar on 'new wave'
BT Group plc have reported a massive increase in its fourth quarter figures as the company spent less on jobs cuts and demonstrated increased sales performance. The UK's largest telecommunications company recorded a 2% improvement in turnover, which reached almost £4.
30 July 2001
BT faces future competition from Virgin
Sir Richard Branson is planning to take on British Telecommunications by pitting Virgin against BT in the fixed-line telephone market next year, as reported by the Independent on Sunday.
BT faces future competition from Virgin
Sir Richard Branson is planning to take on British Telecommunications by pitting Virgin against BT in the fixed-line telephone market next year, as reported by the Independent on Sunday.
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.
28 June 2002
BT agree £5m Scoot.com directory deal
Following the deregulation of its 192 information service, BT has agreed a £5 million deal for the acquisition of troubled online service Scoot.com. The deal is likely to boost BT's directory operation as the company faces increased competition following the deregulation.
BT agree £5m Scoot.com directory deal
Following the deregulation of its 192 information service, BT has agreed a £5 million deal for the acquisition of troubled online service Scoot.com. The deal is likely to boost BT's directory operation as the company faces increased competition following the deregulation.
26 July 2001
Union issues warnings over BT profit loss
Despite making some headway in reducing its amount of debt, British Telecommunications (BT) has revealed yet another quarterly drop in profits. Announcing figures for the second quarter, Chairman Christopher Bland said that BT had succeeded in reducing debt from the “unsustainable” level of almost £28 billion, as recorded in March of this year.
Union issues warnings over BT profit loss
Despite making some headway in reducing its amount of debt, British Telecommunications (BT) has revealed yet another quarterly drop in profits. Announcing figures for the second quarter, Chairman Christopher Bland said that BT had succeeded in reducing debt from the “unsustainable” level of almost £28 billion, as recorded in March of this year.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
