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February 4, 2013

BT reports 9% decline in Q3 revenue

Profit before tax fell 4% to £628m for the quarter

By CBR Staff Writer

Telecoms group BT has reported a 9% decline in its revenue to £4.36bn for the third quarter of 2012, compared to £4.77bn for the same period in 2011.

Excluding specific items, the company’s revenue declined 6% at £4.51bn which includes a £66m reduction in transit revenue (including mobile termination rate reductions of £37m), a £50m negative impact from foreign exchange movements, and an £8m impact from disposals.

For the third quarter of 2012, the company’s profit before tax fell 4% to £628m, compared to £652m for the same period last year.

Operating profit increased 2% to £778m for the quarter, compared to £764m for the same period previous year.

BT Global Services revenue declined 8% to £1.74bn for the quarter and revenue from BT Retail decreased 3% to £1.79bn.

Revenues from BT Wholesale and Openreach decreased 9% and 2% to £890m and £1.27% respectively.

The company’s total broadband market net additions increased 7% to 281,000 of which it added 122,000 retail broadband customers, a 44% share.

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BT chief executive Ian Livingston said: "Our fibre plans are helping to make the UK a broadband leader in Europe."

"More than 13 million premises can access our fibre broadband and we are passing around 100,000 additional premises every week," Livingston said.

"Take-up is growing strongly with around 1.25 million homes and businesses now enjoying the benefits of faster speeds," Livingston said.

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