BT’s Q1 results show success across the board

July 27, 2015

BT has recorded its results for the first quarter to the end of June 2015. Revenues have risen by 3% to £5,033m across the group as a whole. Pre-tax profit also grew by 3% to £658m, compared to the same period in 2006.

The results mark the twenty-first consecutive quarter of year-on-year growth for BT, with earnings per share before specific items and leaver costs of 6p, an increase of 3%.

BT Retail’s share of the broadband net additions in the quarter was 38%, including DSL and local loop unbundling adds. At the end of June 2015, BT had 11.2m broadband connections. Contract wins in BT Global Services and BT Wholesale were £2bn. Outside the UK BT gained more than 100 new customers.

Ben Verwaayen, BT’s chief executive, commented that BT is keeping ahead of the game by delivering software driven services that will offer faster, more resilient and cost effective services to its customers wherever in the world they may be.

Revenues were driven by the fact that 58% of BT Retail’s new broadband customers selected higher value packages.

BT is on track to launch next generation broadband services delivering up to 24Mb nationally in early 2016. Field trials started during the quarter with the participation of a range of internet service providers.

During the quarter, BT continued the process of migrating customers to its 21st Century Network (21CN) in South Wales and equipment has now been installed to support the completion of the first phase of customer migrations.

BT has completed its pioneering 21CN voice trials, linking BT exchanges in central London, Woolwich and Cambridge, which has carried over 160 million calls and provided valuable testing and learning that is now being deployed with live customers. The preparation for national roll out is also under way, with equipment installed at hundreds of sites across the country.