BT Reports 13% Growth in Quarterly Earnings

2:30 am on February 9, 2007 | Category: Business, Corporate, Telecom Services

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The UK’s largest telephone carrier, BT, reported a 13% increase in its third quarter profit yesterday, and predicted continued strong results in coming months, especially in the broadband internet market.

Excluding a major one-time tax credit, BT generated a net income of £465 million (US$916 million) in the final three months of 2006, compared to £411 million in the same quarter a year previous. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed 2% in the same period to £1.41 billion, while total sales rose 5% to £5.13 billion.

The former telecom monopoly is predicting further increases in both revenue and earnings over the next couple of years, boosting the confidence of analysts and investors.

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