Acceptable start for BT
BT has announced its first quarter to results to 30 June 2009 and revenue is down 4 per cent to £5,006 million. Operating costs were reduced by £291 million and adjusted EBITDA was £1,399m, up 6 per cent. Its net debt of £8.9 billionn was down by more than £1.6 billion.
Chief Executive Ian Livingston says:
“We have made an acceptable start to the year, delivering improved financial results while investing in the future of the business. In TV we are offering great value premium sports packages and can now compete on a more even playing field. We hit the first major milestone in our fibre roll out, passing over 1.5m premises, and we are now running at an average rate of around 100,000 premises passed every week. In BT Global Services we continue to win significant contracts due to our ability to deliver a world class service to our customers.
“Despite the challenging environment, these financial results underpin our outlook for the full year.”
29-Jul-2010
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