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November 12, 2010

BT Q2 revenue down marginally to £5bn

Expects free cash flow to be £2.1bn for fiscal year 2011

By CBR Staff Writer

UK telecommunications operator BT Group reported revenue of £5bn for the second quarter of fiscal 2011, a marginal decrease of 3% compared to £5.1bn for the same period last year.

For the quarter ended 30 September 2010, adjusted EBITDA was £1.5bn, a marginal increase of 3%, compared to £1.4bn for the same quarter a year ago.

The company posted an adjusted operating profit of £715m, up 9% compared to £656m in the same period last year.

The revenues from BT global services, retail and wholesale segments decreased by 2%, 4% and 5% to £2bn, £1.9bn and £1.1bn, respectively.

BT chief executive Ian Livingston said global services order intake was up 50% at £2.1bn and their fibre roll out has passed three million premises and BT Infinity orders are now running at over 4,000 per week.

"BT Vision customers now stand at more than half a million, with more developments planned to enhance our offering and our share of DSL broadband net additions was 45%, one of our highest shares ever," Livingston said.

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The company forecasts full-year 2010/11 EBITDA to be £5.8bn and free cash flow to be £2.1bn.

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