BT returns to growth as revenues jump 2pc to stg£4.59bn

31 Jan 2014

Telecoms player BT Group plc reported its first return to revenue growth in four years with third-quarter revenues of stg£4.59bn. In Ireland, the company’s underlying revenue grew 3pc.

Profit before tax across BT Group went up 8pc to stg£722m.

“Our strategic investments are delivering. It was another record quarter for fibre take-up and there are now more than 18m premises with access to our fibre,” said chief executive Gavin Patterson.

“That number will grow further as the BDUK programme progresses.

“Fibre helps SMEs to compete and underpins our TV plans. Our direct BT Sport customer base passed 2.5m in the quarter and helped to support 6pc revenue growth in our Consumer business.

“We achieved some particularly strong audience figures in December and the exclusive rights to the UEFA Champions League and UEFA Europa League that we have won will further strengthen the appeal of our proposition,” Patterson said.

BT in Ireland

In Ireland, BT said underlying revenue excluding transit revenue grew 3pc, bolstered by key infrastructure deals.

These included new contracts with major enterprises, including a new five-year deal with the Ardagh Group in December.

BT Ireland said that in its wholesale division, growth in revenues were driven by new contracts and the renewal of existing contracts with customers including Colt Technology Services.

“Today’s results reflect a positive quarter for our BT Ireland business,” BT Ireland chief executive Colm O’Neill said.

“We are continuing to challenge and succeed in the Republic of Ireland market by offering a unique IT services capability that is underpinned by our world-class global network.

“On the wholesale side of our business, our extensive network investment continues to attract other communication service providers, enabling them to offer leading-edge fibre broadband technology to their customers,” O’Neill added.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years