Feeds

BT profits crash

Global Services loses half a billion

Build a business case: developing custom apps

BT's pre-tax profit fell 81 per cent compared to the third quarter of last year.

In the three months ended 31 December 2008 the telco made £113m in profit, compared to £601m in the last three months of 2007.

Revenue was £5,437m, up five per cent from £5,154m the year before. BT is writing off £336m as a result of contract reviews at BT Global Services, announced in January.. BT shares are down about five per cent at the time of writing.

BT promised quick action to fix the problems at Global Services - chief executive Ian Livingstone said the rest of the group managed the best profit growth for five years but this was eaten by Global Services loss of £501m.

BT Wholesale brought in revenues of £1,183m, down two per cent. Retail made £2,134m, down 0.6 per cent on last year while Global Services made £2,253m up 15 per cent. But this 15 per cent growth was due to a nine per cent improvement in currency rates and six per cent from acquisitions. UK revenues fell three per cent but was offset by 40 per cent growth elsewhere.

Openreach made revenues of £1,329m, up 0.8 per cent.

BT had 13.6m wholesale broadband connections on 31 December 2008, including 5.5m LLU lines. There were 296,000 net additions during the quarter. BT's retail arm claimed 4.7m customers - a 34 per cent market share.

Full release here.

BT has net debt of £11,060m, up from £10,175m on 31 December 2007. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
UK fuzz want PINCODES on ALL mobile phones
Met Police calls for mandatory passwords on all new mobes
Canadian ISP Shaw falls over with 'routing' sickness
How sure are you of cloud computing now?
Don't call it throttling: Ericsson 'priority' tech gives users their own slice of spectrum
Actually it's a nifty trick - at least you'll pay for what you get
Three floats Jolla in Hong Kong: Says Sailfish is '3rd option'
Network throws hat into ring with Linux-powered handsets
Fifteen zero days found in hacker router comp romp
Four routers rooted in SOHOpelessly Broken challenge
New Sprint CEO says he will lower axe on staff – but prices come first
'Very disruptive' new rates to be revealed next week
PwC says US biz lagging in Internet of Things
Grass is greener in Asia, say the sensors
Ofcom sees RISE OF THE MACHINE-to-machine cell comms
Study spots 9% growth in IoT m2m mobile data connections
O2 vs Vodafone: Mobe firms grab for GCHQ, gov.uk security badge
No, the spooks love US best, say rival firms
Ancient pager tech SMS: It works, it's fab, but wow, get a load of that incoming SPAM
Networks' main issue: they don't know how it works, says expert
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
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.