New wave boosts BT profits 26 per cent

09-11-2006

New wave boosts BT profits 26 per cent
Telecoms giant BT has seen its half-year profits rise by more than a quarter after healthy growth in its IT and internet divisions.

The firm's profits for the six months ending September 30th were £1.24 billion, 26 per cent higher than last year's £988 million.

New wave revenue during the same period went up 20 per cent to £3.38 billion, while overall income stands at £9.8 billion, a rise of three per cent.

BT now has 9.3 million broadband users in total, with three million subscribing through its BT Retail sector.

Sir Christopher Bland, the group's chairman, today said: "These strong half-year results show sustained momentum across the business with revenues up three per cent and earnings per share before specific items up 19 per cent.

"I am pleased to report that we will be paying an interim dividend of 5.1 pence, up 19 per cent on last year, showing our continued commitment to improving shareholder returns and our confidence for the future."

Meanwhile, chief executive Ben Verwaayen said that today's results had underlined BT's "confidence in our ability to grow our revenue".

"Revenue has increased for eleven consecutive quarters and earnings per share were up 13 per cent, the eighteenth consecutive quarter of growth," he added on the firm's second quarter results.


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