BT surprises the market as profits surge

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first_img Share BT surprises the market as profits surge whatsapp KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Tags: NULLcenter_img BT shares jumped over three per cent yesterday after the telecoms giant unveiled better than expected results, buoyed by improvements at its Global Services division.BT’s core profit rose seven per cent to £1.48bn in the last quarter of 2010, despite a three per cent sales decline, as it continued to slash costs. Global Services’ sales fell seven per cent but its profit margin jumped an impressive 7.1 per cent. Technology research firm Ovum said the performance was surprisingly strong, with the division having undergone a massive restructuring.Analyst Mark Giles said: “This is a huge bonus for the group – it shows it has cleared up some bad commercial deals very effectively.”BT retail gained broadband market share in the quarter, adding 188,000 customers, or 53 per cent of new business in the sector. This was partly due to strong take-up of its BT Vision internet TV service, which more than doubled its quarterly uptake with 40,000 net additions. But the division still reported its tenth successive quarter of consumer revenue decline, down four per cent, compared to business revenue up one per cent. Overall revenue at the division fell three per cent to £1.97bn from £2.02bn a year earlier. However, Ebitda jumped four per cent in the same period to £452m.Chief executive Ian Livingston said: “Retail had a good quarter with our highest share of DSL broadband net additions for eight years. If you want cheap and cheerful, we’ve got it; if you want the best, we’ve got it.”BT’s pension deficit, which in December 2008 stood at £9bn, fell to £3.7bn thanks to improvements in the market, a change to statutory accountancy methods and BT’s £525m annual contribution. The stock closed up 3.6 per cent at 184.9p. Show Comments ▼ whatsapp Thursday 3 February 2011 7:57 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionHero WarsThis game will keep you up all night!Hero WarsOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeBrake For ItThe Most Worthless Cars Ever MadeBrake For ItThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programlast_img

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