UK's telecommunication giant, BT Group has said that it has recorded an increase of 7 per cent in Profit before tax to £675 million during the quarter from October from December.
BT said in a statement published on its website that it had recorded a Profit before tax of £632 million during the same period of the previous year. The rise in profits comes as the company recorded tighter spending controls and strong demand for broadband connections.
The biggest fixed-line telecom company in the UK said that its profits before interest, taxes, depreciation and amortisation increased 2 per cent to 1.55 billion, compared to an analyst expectation of £1.53 billion. On the other hand, the company recorded a fall of 6 per cent to £4.5 billion during the quarter till December, 2012.
Ian Livingston, the BT chief executive said that the company has made progress in several areas and recorded strong financial results. He also claimed the fibre plans of the company are making the UK a broadband leader in Europe.
"More than 13m premises can access our fibre broadband and we are passing around 100,000 additional premises every week. This gives us an excellent platform for our push into TV and Sport later this year," said Mr. Livingston.
- The Robot-Snake Charger Designed by Tesla Could Scare you Along with Charging your Car
- Food Industry Consolidations Might be What Activist Investors are Expecting
- BOJ Unchanged About Upbeat Economic Assessment In Spite of Contraction Expected in April- June Quarter
- Friday’s US Jobs Report for July Is Expected to Show Strong Gains
- MH370 Debris Wash Ashore to an Indian Ocean Island