New wave businesses fire BT revenue


BT has reported a three per cent rise in revenue of £4.86 billion in the three months to June 30th, with new wave businesses such as broadband subscriptions and networked IT services offsetting faltering demand for traditional services.

The British-based telecoms giant's new wave revenue was up 18 per cent to £1.64 billion, while traditional sources of earnings fell four per cent compared to the previous quarter, giving profits of before taxation of £639 million, a rise of 24 per cent.

Broadband revenue increased 45 per cent to £454 million, with 8.7 million customers now signed up to high-speed internet connections, 2.9 million more than the corresponding period 12 months ago.

Ben Verwaayen, the company's chief executive, said: "This is a strong all round performance to start the financial year, with the momentum we saw in recent quarters continuing.

"Our international business is expanding strongly and we won more than 200 new customer accounts outside the UK in the quarter."

Mr Verwaayen added that the group's revenue had now increased for the past ten consecutive months.

BT estimate that it has a 30 per cent share of the UK broadband market overall, while it attributes the continuing disinterest in traditional streams of revenue to regulatory intervention, increasing competition and technological changes.

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