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    Broadband gives BT a Q3 profit boost

    Associated Press – Fri, Feb 3, 2012

    LONDON (AP) — 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 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, respectively.

    Internet connections increased for the fifth consecutive quarter, BT said, adding that the 146,000 net addition of retail broadband customers represented 56 percent of the total U.K. additions in the period.

    BT shares were up 1.4 percent at 209 pence in early trading in London.

     

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