British Telecom reports 45 per cent drop in half-yearly profits

Nitesh Prasad 12 November 2009

British Telecom reports 45 per cent drop in half-yearly profitsLondon - British Telecom (BT) Thursday reported a 45-per cent drop in half-yearly pre-tax profits to 547 million pounds (914 million dollars).

In a statement, the company said the decline was due mainly to costs linked with a major redundancy programme after 15,000 jobs were cut earlier this year.

Revenue for the period from March to September this year declined marginally to 10.35 billion pounds, compared with 10.48 billion pounds in the same period of 2008. (dpa)