BT Ireland revenues
reach €470m

18 May 2006

BT Ireland today reported full-year revenues of €470m, up 26pc on last year’s revenues of €372m. The year saw BT report double-digit-percentage revenue growth across all market segments, a record order intake and the company’s selection as the network service provider for the forthcoming digital TV pilot.

The company’s acquisition of IT service player Cara and promotion of its broadband products resulted in an increase in operating costs. As a result the company reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of €34m.

During the year, BT Ireland continued to win corporate and public sector contracts with 60pc of Ireland’s top 1,000 companies and 90pc of the ISEQ 20.

Revenue in the corporate sector grew by 22pc over the previous year with BT Ireland securing high-profile contracts with Analog Devices, Bank of Scotland (Ireland), Cork County Council, Danske Bank, Element Six, FBD, Irish Life & Permanent and Tourism Ireland.

The company has also been awarded the Digital Terrestrial TV (DTT) pilot by the Department of Communications, Marine and Natural Resources and has been short-listed for the Managed Digital Radio Services (MDRS) Project for the Emergency Services.

The company’s 1,000 Irish employees will share a total of €5m in bonus payments based on the year’s performance.

Commenting on the results, Danny McLaughlin, CEO of BT Ireland, said: “We’ve had an excellent year with double-digit-percentage revenue growth across all market segments.

“Our networked IT services business continues to thrive, boosted by the acquisition of CARA, and we’re now recognised as the third-largest services company in the Republic of Ireland,” McLaughlin said.

By John Kennedy