BT Announce Q1 Results

Highlights from BT’s first quarter results include revenue of £5,177 million, up 3 per cent and operating profit before specific items and leaver costs of £742 million, up 4 per cent

BT reports 13.0 million broadband end users of which BT’s retail share was 35 per cent, with 31 per cent of net additions in the quarter

Ian Livingston, Chief Executive, commenting on the first quarter results, said: “BT has continued to grow revenue, EBITDA3 and earnings per share3 in the first quarter.

BT Global Services has increased revenue by 13 per cent with strong growth of 33 per cent outside the UK. We achieved total contract wins of £8.2 billion over the last twelve months, and the pipeline of new business remains strong.

BT Retail performed well with revenue growth of 3 per cent and double digit profit growth. BT Wholesale has won managed network solutions contracts of £1.2 billion over the last twelve months.

We are committed to delivering long term shareholder value and will continue to invest in the future growth of our business. We have announced plans to invest £1.5 billion to make fibre-based, super-fast broadband available to as many as 10 million homes in the UK by 2012, dependent upon an appropriate regulatory environment.

Our full year guidance remains unchanged – we continue to expect to deliver growth in revenue, EBITDA3, earnings per share3 and dividends per share in this financial year.”