Broadband gives BT a Q3 profit boost

AP News
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Posted: Feb 03, 2012 3:33 AM
Broadband gives BT a Q3 profit boost

A strong performance by the broadband business helped British telecommunications company BT PLC report a 41 percent increase in net profit in the three months ending Dec. 31.

BT said Friday that after-tax profit for the period, the company's third quarter, was 491 million pounds ($777 million), up from 418 million pounds a year earlier. Excluding one-time items, net profit was up 14 percent to 476 million pounds.

Revenue was down 5 percent to 4.77 billion pounds even though OpenReach, the unit providing broadband connections, reported a 5 percent revenue gain to 1.3 billion pounds; other business sectors including retail and wholesale were down between 4 percent and 8 percent.