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Latest results from the BT Group
Thursday 10 February 2005 09:58:00 by Andrew Ferguson

The BT Group has published its Third Quarter results, and the summary of nine months trading up to until 31st December 2004. Broadband highlights are that in the last quarter that 800,000 new DSL connections were made, bringing the total to 4.1 million. The current expectation is that this growth will continue and the 5 million milestone will be passed in Spring 2005.

“Our transformation strategy has now delivered underlying revenue growth in four consecutive quarters, a significant milestone. We have seen new wave growth of 35 per cent.

Broadband DSL connections were more than 800,000 in the quarter, a new connection every 10 seconds of every day. We expect to achieve 5 million broadband DSL connections a year ahead of target.

Our global ICT presence is building strongly and our Global Services revenues grew by 10 per cent in the quarter.

Earnings per share before goodwill amortisation and exceptional items grew by 9 per cent to 4.8 pence.

These results justify the confidence we have in our strategy which is transforming BT and delivering long-term growth in shareholder value. ”.

Ben Verwaayen, Chief Executive, BT Group

Reading the report it is interesting to note that turnover in the BT Group's traditional businesses was 8 per cent down, this is attributed to the change in direction of BT, brought about by the embracing of new technologies and regulatory pressure. New Wave turnover which BT define as revenue generated from Information and Communications Technology (ICT) solutions and managed services, broadband and mobility now accounts for a quarter of the groups turnover. Broadband turnover alone increased by 98 per cent to £253 million.

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