BT posts 'acceptable' results

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BT has posted “acceptable” results for the three months leading up to 30 June, with revenues down but profit up.

Revenue hit £5 billion during the period, down four per cent from the same quarter in 2009, whilst a reduction in operating costs of £291 million led to net profits rising to £284 million.

BT’s debt was down by more than £1.6 billion and its full-year outlook remained the same as outlined in the previous quarter results, when the communications firm said it expected to achieve revenue of around £20 billion for 2010/11.

“We have made an acceptable start to the year, delivering improved financial results while investing in the future of the business,” said chief executive (CEO) Ian Livingston.

He pointed to the company’s new TV offerings, which include packages with Sky Sports channels, meaning BT can “compete on a more even playing field.”

Talking up the communications giant’s recent successes, Livingston added: “We hit the first major milestone in our fibre roll out, passing over 1.5 million premises, and we are now running at an average rate of around 100,000 premises passed every week."

"In BT Global Services we continue to win significant contracts due to our ability to deliver a world class service to our customers.”

It was only earlier this month that BT managed to avoid strike action after reaching an agreement over a pay dispute with the Communications Workers Union.

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