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February 6, 2012

BT’s Q3 revenues fell 5% to £4.77bn

The telecom provider added 146,000 retail broadband customers and 95,000 super-fast BT Infinity broadband product customers in the quarter

By Vinod

UK telecom operator BT Group has reported revenues of £4.77bn for the third quarter of 2011, a decline of 5% compared to £5.038bn in the corresponding quarter of 2010.

However, its adjusted pre-tax profits for the quarter rose by 18% to £628m, compared to £531m in the same quarter a year ago.

The profit share increased as BT added 146,000 retail broadband customers, which comprised for 56% of the broadband market additions, taking its retail broadband customer base to 6.1m at the end of third quarter.

Also, take up of super-fast BT Infinity broadband product increased, as 95,000 customers were added in the quarter, taking its base to beyond 400,000 customers.

BT chief executive Ian Livingston said the company has delivered another quarter of growth in profits and cash flow despite the economic headwinds.

"Our investment to support our customers and improve our services has resulted in new contract wins around the world, with orders so far this year up over 50% in Asia Pacific and Latin America," added Livingston.

"In the UK, our fibre roll-out has accelerated bringing super-fast broadband within reach of over 7m homes and businesses and we remain the number one broadband retailer with over 6m customers."

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BT expects to achieve its 2013 adjusted pre-tax profits target of above £6bn a year early and to deliver adjusted free cash flow of around £2.4bn in 2012.

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