BT reports better than expected profit
18.05.2010
BT Group reported a stronger-than-forecast fiscal fourth-quarter profit of 208 million pounds compared with a loss of £1.01 billion in the same period of the previous year.
The previous year’s result included a one-off charge of £1.3 billion charge in its global services division.
BT was helped by a 16% fall in labour costs after cutting 20,000 jobs during the year.
The group’s revenue fell 2% to £5.36 billion, with sales falling across the group’s divisions.
The global services unit performed well, winning £2.2 billion of orders, from major companies such as British Airways and J Sainsbury Plc.
The company is continuing to invest in its fibre-optic network, pushing capital expenditure up by 12 per cent in the fourth-quarter.
