BT profits rise

TELECOMS provider BT reported a seven per cent increase in third-quarter core profit as it continued to cut costs.
By The Newsroom
Published 3rd Feb 2011, 08:55 BST

Britain's biggest fixed-line services supplier said it had gained market share in retail broadband, winning 53 per cent of new customers in the quarter to end-December. It said the results gave it confidence in its outlook.

"These results show that we are making progress on a number of fronts. There is always more to do, but our performance underpins our outlook for this year and the period to 2012/13," chief executive Ian Livingston said.

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Total revenue fell three per cent to 5.04bn, in line with expectations, while earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.48bn was ahead of market forecasts.

Analysts had expected revenue of 5.05bn.

Global Services, BT's enterprise unit, which Mr Livingston has been restructuring after a period of fast growth but poor profitability, increased its EBITDA margin to 7.1 per cent from 5.8 per cent a year earlier.

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