BT revenues slip, but not by as much as expected

29 Jul 2004

BT’s revenues for the fiscal first quarter ended 30 June 2004 fell by 0.4% to GBP4.57 billion, slightly beating analysts expectations. The results are a vindication of BT’s recent strategy to stem persistent revenue decline by boosting sales of so called ‘New Wave’ services such as wireless, broadband and corporate services. Sales from this segment climbed 32% during the quarter to GBP936 million, although EBITDA dropped 8% to GBP1.34 billion. Net income for the period fell to GBP305 million, from GBP350 million a year earlier.

United Kingdom, BT Group (incl. Openreach)