BT Ireland reports 3% fall in revenue

Irish altnet BT Ireland says its revenues for the full year to 31 March 2011 fell 3% year-on-year to just below EUR857 million (USD1.2 billion), as the company continues to weather the storm in a tough economic climate. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 11% y-o-y however, as the firm reaped the rewards of a cost-cutting exercise and secured a number of sizeable retail and wholesale contracts – including Ryanair, Web Reservations International and Kingspan. The telco did not provide actual EBITDA figures. The unit’s CEO Graham Sutherland said: ‘We continue to transform our cost base, a process we began over four years ago, which is freeing up investment for us to inject into our Irish operations and the services we provide here.’