Corporate Networking and Broadband Boost BT’s Revenue by 7%

1:05 am on May 19, 2006 | Category: Business, Corporate, Internet, Telecom Services

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The UK’s largest telephone carrier, BT, has reported better-than-expected financial results for the first quarter of 2006, with revenue increasing significantly over the same period last year.

Total sales were up 7% to £5.13 billion, while profits came in at £1.5 billion, a 1% increase over the first quarter of 2005.

Traditional telephone revenues declined a total of 3% in the past year, but this loss was more than made up for huge gains in “new wave” services like broadband internet access and corporate networking. Revenue from these services increased by an impressive 28%, accounting for £1.85 billion of the company’s total sales volume.

After reporting its results, the company expressed confidence that it would be able to continue boosting its revenue and profits in the months and years to come.

“Our performance underpins our confidence that we can continue to grow revenue, EBITDA (earnings before interest, tax, depreciation and amortisation), earnings per share, and dividends over the coming year,” BT said in a statement.

These assurances cuased the company’s stock price to soar over 8% in yesterday’s trading.

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    Edited by Jeremy Maddock