BT revenues still held back by Global Services
By Jennifer Scott,
BT today reported a slight, but better than expected, rise in revenue in its quarterly results.
The rise of one per cent translates as revenues of £5.2 million compared to £5.1 million for the same time last year.
“We have made a solid start to the year against a background of challenging trading conditions," said Ian Livingstone, chief executive of BT, in a statement.
However, the Global Services division isn’t quite up to scratch yet.
It again held back results by reporting a loss of £124 million. But, nonetheless, Livingstone is sticking by the group.
He said: “BT Global Services is making progress although there is still much to do.”
It faced problems as the under performing section of the group late last year. This lead to 15,000 layoffs and the departure of chief executive François Barrault, who received a £1.6 million payoff.
BT saved money elsewhere, however, with a reduction of £357 million in operating costs and capital expenditure.
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