The latest financial results from BT for the first quarter to 30 June 2014 show a 2% decline in overall revenues, albeit a 0.5% increase in underlying revenue. EBITDA was flat and earnings per share were up 10%.
Gavin Patterson, Chief Executive, commenting on the results, said: “We have made a good start to the year. We have delivered growth in underlying revenue excluding transit and in profit before tax, and free cash flow was strong.
“Our fibre broadband network now covers more than twenty million premises. We are passing over 70,000 additional premises each week and demand is strong with more than three million already signed up. We have announced a further 2,500 new jobs in recent months to support our strategic investments in fibre and customer service.
“I’m excited by the launch of BT One Phone for the business market as well as our other mobility plans. We’ll say more on these later this financial year. The second season of BT Sport is about to start with a great line-up of content and it will continue to be free with BT Broadband. We are building on solid foundations and I am confident we will deliver on our strategy.”
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