Wednesday, May 11, 2011

BT Revenue Slides 3%, Profits Up

BT reported quarterly revenue of £5,055m, down 6% compared to year earlier, while adjusted EBITDA increased by 3% to £1,551m. Total group operating costs were reduced by 8% to £4,367m, as the company continued to trim expenses. Revenue for the full fiscal year ended 31-March-2011 was £20,076m, in line with the company's published outlook.

"We have consolidated our position as the leading provider of broadband in the UK with our highest quarterly share of DSL broadband net additions for eight years. BT Global Services order intake was up 10% at 7.3bn pounds Sterling and it has turned cash flow positive a year ahead of plan. Openreach saw growth in its copper line base in the year, reversing historic trends. Our roll out of super-fast broadband is one of the most rapid in the world, passing an average of 80,000 additional premises each week and we have plans to roughly double the speed of our fibre-to-the-cabinet based service in 2012," stated Ian Livingston, Chief Executive.

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