BT Reports Fall in Second Quarter Revenues

BT Group plc (BT.L) has announced its results for the second quarter and half year to 30September 2010. At £4,977m sales are down 3% on the same period last year. EBITDA is up 3% at £1452m.

Ian Livingston, Chief Executive, commenting on the results, said: “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.

“We have increased our EBITDA outlook for the year and now expect to hit our £2bn free cash flow target two years early.

“Global Services order intake was up 50% at £2.1bn. Our fibre roll out has passed three million premises and BT Infinity orders are now running at over 4,000 per week. BT Vision customers now stand at more than half a million, with more developments planned to enhance our offering. Our share of DSL broadband net additions was 45%, one of our highest shares ever.”

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