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February 3, 2014

BT Q3 revenue increases by 2%

The company's adjusted profit before tax for the quarter went up by 8% to £722m.

By CBR Staff Writer

Telecommunication services provider BT Group has reported a 2% increase in revenue to £4.59bn for the third quarter ending 31 December 2013, compared to the same period the previous year.

The company’s adjusted profit before tax for the quarter went up by 8% to £722m against the same period last year, while the adjusted operating profit grew 4% to £867m.

Its net profit increased to £493m during the quarter from £484m it recorded a year earlier.

During the quarter, BT added 228,000 retail fibre broadband customers, a 14% rise compared to the third quarter of 2012, while its total number of fibre broadband customers rose to about 1.9 million.

The UK broadband market in the quarter grew by 252,000 customers of which BT offered 60% connections and it also had over 2.5 million direct BT Sport customers, the company claimed.

BT chief executive Gavin Patterson said the company’s strategic investments are delivering.

"It was another record quarter for fibre take-up and there are now more than 18 million premises with access to our fibre," Patterson added.

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The company’s Openreach registered 38% increase in net fibre connections to 339,000 that connects about 2.4 million homes and businesses now connected, while the net retail fibre broadband customers grew 14% to 228,000.

"Outside the UK our businesses in the high-growth regions of the world again delivered double-digit revenue growth.

"The momentum on our cost transformation has enabled us to raise our EBITDA outlook for the year."

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