BT: Revenue down, but profits up for H1

BT Group has downgraded its full year revenues but due to deep cost cutting, the company recorded a pre-tax profit rise of 8% to £1.19 billion in the six months to end of September.

The results beat analysts’ expectations, although revenues were down 7% to £9 billion.

Half the firm’s revenues are reliant on corporate spending in the UK and overseas but the Eurozone crisis is continuing to hit the company. However, BT Retail added 81,000 new customers, giving them a 47% market share of all broadband customers in the UK.

Ian Livingston, chief executive, commenting on the results, said: “We continue to make significant investments in the future of our business and we are again accelerating our fibre roll-out.”

Livingstone continued: “Over the summer we helped to deliver the most connected Olympic and Paralympic Games ever and I am proud of the part that our people played in its success.”

To see how BT figures relate to competitor TV platforms, please visit MediaTel’s Connected Consumer product.