British fixed line incumbent BT has unveiled a 24% year-on-year increase in net profit in its second fiscal quarter of 2011, with the telco reporting a net income of GBP494 million (USD789 million) for the three months ended 30 September 2011. With turnover in the period falling from GBP4.98 billion in 2Q10 to GBP4.48 billion in the same quarter a year later, the increase in net income was partly attributed to lower operating costs and finance expenses, with the telco posting an almost 12% y-o-y drop in operating costs to GBP3.89 billion, while finance expenses fell to GBP698 million in 2Q11, down from GBP808 million in the same quarter in 2010. Adjusted earnings before interest, tax, depreciation and amortisation for the three-month period meanwhile stood at GBP1.49 billion, a 3% y-o-y increase, which the company said reflected the delivery of cost reductions
More:
OVETEL Cost cutting helps BT report a 24% y-o-y rise in net profit in 2Q11
No comments:
Post a Comment