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BT dials in profit

08/02/2007

BT has revealed its profit has jumped 13 per cent in the last quarter, with the company earning £643 million before tax.

Releasing its third quarter and nine month results, the telecoms giant announced revenue of £5,126 million, a rise of five per cent.

Part of its success was attributed to strong broadband growth. BT reported 697,000 new connections in its high-speed internet sector, with 34 per cent of these additions to its retail broadband operations.

Chief executive Ben Verwaayen said that BT has performed well in the intensely competitive market for broadband. "There are now more than ten million wholesale broadband connections and the market continues to grow strongly," he said.

Mr Verwaayen said that BT won £2.5 billion worth of sales orders in the quarter.

"This is another strong set of results. Our strategy is delivering and the positive trends are gathering momentum," he said.

"The revenue growth of five per cent reflects continued strong growth in new wave services and a robust defence of our traditional business, underpinned by growth in active consumer customers for the first time in four years."

Profit for the quarter translated to 5.8p per BT share, up 14 per cent.

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