BT Group plc (BT.L) today announces its results for the first quarter to 30 June 2010 showing that sales of £5,006m were 4% down on the same quarter last year.
At the same time the company reduced operating costs by £291m and adjusted profit before tax of £446m was up 17% on the same period last year.
Ian Livingston, Chief Executive, commenting on the first quarter results, said: “We have made an acceptable start to the year, delivering improved financial results while investing in the future of the business. In TV we are offering great value premium sports packages and can now compete on a more even playing field. We hit the first major milestone in our fibre roll out, passing over 1.5m premises, and we are now running at an average rate of around 100,000 premises passed every week. In BT Global Services we continue to win significant contracts due to our ability to deliver a world class service to our customers.
Despite the challenging environment, these financial results underpin our outlook for the full year.”