BT announces strong Q2 results

BT has released its results for Q2 and the first half of the year to 30 September 2011.

“We have increased cash flow, profits and underlying revenue in the quarter,” said Ian Livingston, chief executive. “This progress has been supplemented with positive operational performances in most of our businesses. We achieved a market leading 63% share of broadband net additions and another quarter of growth in fixed lines.

“We expect to continue to offset the economic headwinds through improved customer service and processes, better efficiency, and investment in the future of the business.  This strategy and our financial results allow us to invest when others are merely talking about it.

“We are accelerating our fibre roll-out programme to cover two-thirds of the UK by the end of 2014 – one year earlier than planned and creating 520 new jobs. With the already announced government support, we believe there is the potential for fibre-based services to reach more than 90% of the UK within a few years thereafter.

“We are also investing across the world and have announced a programme to double our business in key Latin American countries in addition to our expansion in the Asia Pacific region announced last year.

“Our performance in the quarter reinforces but does not change our outlook for the year.”