Feeds

BT shares slide

Operating profit stagnant

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Investors were unimpressed with BT's Q3 results announced this morning wiping almost 8 per cent off the value of the company in the first three hours of trading.

BT shares fell 53p to 627p as the monster telco reported stagnant operating profits of £836 million - up just £4 million on the same period last year.

And that's despite increased group turnover of 10.8 per cent from £4.74 billion for Q3 in 1999, compared to £5.25 billion in Q3 2000.

BT confirmed it was still on target to be in debt by £30 billion at the end of its financial year end, although expects this to be reduced by £10 billion following restructuring.

All in all, it's been a bad 24-hours for the monster telco. Not only are its Q3 results disappointing, it's facing legal action over concerns that it has distorted the roll-out of ADSL by favouring its own ISP. And last night it picked up the "Internet Villain" award at Britain's "Internet Oscars". ®

Related Stories

BT broadband a 'national disgrace'
BT is Britain's 'Internet Villain'

Choosing a cloud hosting partner with confidence

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?