British telecoms group BT Group says profits fall

11th November 2010, Comments 0 comments

British telecoms operator BT Group said Thursday its second-quarter net profit fell almost seven percent to 399 million pounds (468 million euros, 645 million dollars).

Revenue also fell, by 1.8 percent to 4.977 billion pounds in the three months to September 30, compared with the equivalent period in 2009, BT added in an earnings statement.

Pre-tax profit however rose 13 percent to 496 million pounds, beating analyst expectations and prompting BT chief executive Ian Livingston to raise the group's forecast for underlying earnings.

"We have made significant progress in improving profitability and cash flow, enabling us to invest in building the foundations for revenue growth in 2012/13," he said in the statement.

© 2010 AFP

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