BT have released their second quarter results for the period ending 30th September 2010. The key points advised this quarter are adjusted revenue down 3% compared with this time last year to £4,997m, profit before tax is up 13% to £496m and net debt is down by £1.2bn to £8.7bn. Average revenue per user in the retail arm increased to £317, up £3 over the previous quarter.
"We have made significant progress in improving profitability and cash flow, enabling us to invest in building the foundations for revenue growth in 2012/13.
We have increased our EBITDA outlook for the year and now expect to hit our £2bn free cash flow target two years early.
Global Services order intake was up 50% at £2.1bn. Our fibre roll out has passed three million premises and BT Infinity orders are now running at over 4,000 per week. BT Vision customers now stand at more than half a million, with more developments planned to enhance our offering. Our share of DSL broadband net additions was 45%, one of our highest shares ever."Ian Livingstone, (Chief Executive) BT
In terms of broadband, BT Retail, the consumer and business arm, saw net additions of 114,000 lines, boosting the total to 5.34 million. This amounts to a 35% share of the market. The company has increased its footprint of users on faster broadband services with around 1.6m customers now taking either an 'up-to 20meg' or 'up-to 40meg' broadband service. The latter of these, BT Infinity, now make up 38,000 customers with orders coming in at over 4,000 per week.
BT Vision, the video-on-demand and TV service available over BT's broadband connection, saw 24,000 net additions in the quarter boosting the customer base to 520,000, with over 50,000 taking up the Sky Sports package which began in August. Customers can also expect to be able to access BBC iPlayer on the service.
BT Wholesale saw broadband numbers fall by 41,000 to 7.97 million lines, whilst Openreach saw the shift of these over to LLU with net additions of 294,000 lines, putting the total external LLU (i.e. non-BT) lines at 7.14 million.