The third quarter financial results for BT have been released today which see profit ahead of the equivalent time last year, although revenue is down by 3% to £5,038 million.
“Profits and cash flow in the quarter were ahead of last year. BT Retail had a good quarter with growth in business revenues and our highest share of DSL broadband net additions for eight years. Openreach benefited from a stronger broadband market and growth in its copper line base. BT Global Services is now expected to be cash flow positive this year, a year earlier than targeted."Ian Livingston, (Chief Executive) BT
BT Retail saw revenue decrease by 3%, an improvement on the 4% decline last quarter, and the company had 188,000 net additions to broadband users, pushing the market share of DSL and LLU net additions to 53%, the highest for 8 years. Total broadband users therefore stood at 5.53 million. BT Vision also saw good take up, with over 40,000 opting for the TV offering, the highest in seven quarters. This places the total number of users option for BT vision at around 560,000. The average revenue per user increased by £5 over last quarter standing at £322, and BT put this down to an increased penetration of broadband services.