BT sales narrow but profits improve 38%

BT has reported a pre-tax rise in profitof 38%from £375m to £517m in its fiscal first quarter as 251,000 new customers were introduced to its broadband network, but sales at the UK incumbent comms provider dropped 5% year-on-year to £4.8bn. BT Global Services and BT Wholesale sales

BT has reported a pre-tax rise in profit of 38% from £375m to £517m in its fiscal first quarter as 251,000 new customers were introduced to its broadband network, but sales at the UK incumbent comms provider dropped 5% year-on-year to £4.8bn.

BT Global Services and BT Wholesale sales were down 5% in the three months to 30 June, with BT Retail sales falling 4%, reflecting the now well-documented decline in calls and lines revenue.

BT boss Ian Livingston said the Openreach network infrastructure division booked its strongest ever sales growth, rising 5% year-on-year from £1.2m to £1.3m on the back of increasing take-up of superfast broadband services.

Livingston said: "Our superfast broadband network has now passed over five million premises and the customer base has almost trebled in the last six months. BT Global Services is making further progress in high growth economies."

BT said it hoped growth in BT Retail and Openreach would help it achieve its future financial targets.

"This year we expect continuing good performances in BT Retail and Openreach to offset weakness in BT Wholesale EBITDA and to make further progress towards delivering our financial, operational and growth goals," it said.

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