UK telecommunications operator BT Group reported revenue of £5.36bn for the fourth quarter of 2010, a decrease of 2% compared to £5.47bn for the same period last year.
For the quarter ended March 31, 2010, adjusted EBITDA was £1.53bn, an increase of 16%, compared to £1.32bn for the same quarter a year ago. The company posted an adjusted operating profit of £742m, up 41% compared to £526m in the same period last year. Operating costs and capital expenditure reduced by £175m in the quarter.
The revenues from BT Global Services, Retail and Wholesale segments decreased by 2%, 4% and 5% to £2.3bn, £2,06bn and £1,09bn, respectively.
For the fiscal year ended March 31, 2010, the company reported revenue of $20.91bn, down 2% from the previous year. Adjusted EBIDTA was up 6% to $5.78bn while operating profit was $1.88bn.
BT said that it plans to invest a further £1bn to extend the roll out of fibre to around two-thirds of UK premises by 2015.
Ian Livingston, chief executive of BT, said: “We are investing in the future of our business, enhancing our TV offering and building on opportunities in our Global Services business. Assuming an acceptable environment for investment, we see the potential to roll out fibre to around two-thirds of the UK by 2015.
“This will take our total fibre investment to £2.5bn which will be managed within our current levels of capital expenditure. During the next three year period we expect to improve our underlying revenue trends, and grow EBITDA and free cash flow, while investing in the business, supporting the pension fund, reducing net debt and paying progressive dividends.”
The company forecasts full-year 2010/11 revenue of £20bn and operating cost savings of £900m, with net debt expected to be below £9bn.
