BT's Profit Grows as Revenue Declines 6% YoY

BT's overall revenues declined 6% YoY in its most recent fiscal quarter to GBP 4,484 million. CAPEX increased significantly over the same period last year as the company continued its fibre rollout. Nevertheless, earnings per share increased thanks to greater efficiency at the company. There were good performances in BT Retail, BT Wholesale and Openreach while BT Global Services (-9% YoY) was impacted by the tough conditions in Europe and the financial services sector.

"Our financial performance allows us to keep investing for the future. Our engineers are rolling out fibre at pace bringing fibre broadband to over 2m more homes and businesses in the quarter and it's now available to over 11m premises. Our investment plans are creating around 2,000 jobs in 2012 by recruiting engineers to support our fibre plans and opening four new UK call centres. We continue to make good progress with our investments in the faster growing economies."http://www.btplc.com