BT today announced the results for its all-Ireland operation for the full year to the end of March last showing flat revenues but profits that hit a new record with a 9pc rise on the previous year.
It reported revenue of £757m, which was up 1pc year on year (broadly flat in the year excluding the impact of foreign exchange.
It did not break down its Irish profits figure but said that EBITDA or earnings before interest, tax, depreciation and amortisation increased by 9pc year on year.
BT said this was as a result of continued transformation, including improved supplier management and efficiency programmes, and the successful delivery of several large retail and wholesale contracts. Free Cash Flow (FCF) also grew; up 13pc year on year.
"We have delivered increased revenues, profits and free cash flow, despite the economic headwinds, which demonstrates the stability and strength of our business. By continuing to transform our cost base and re-invest for growth our products and solutions portfolio has never been stronger. Continued investment in building advanced communications networks across the island, coupled with excellent IT services capabilities, is proving to be BT's compelling differentiator in this market," said Colm O'Neill, Chief Executive, BT Ireland. BT Ireland's Consumer division, which operates in Northern Ireland, recorded strong demand for BT Infinity fibre broadband service. Take up increased by more than four-fold year on year. There has been rapid growth in Wi-Fi (wireless broadband) and BT's network of Wi-Fi hotspots in Northern Ireland has grown to over 168,000.
Demand for BT Vision, the company's TV service, gathered momentum in the year, and is expected to be boosted by Northern Ireland's Digital TV Switchover in October 2012.
A strong portfolio of network and IT services helped BT Business increase revenues year on year, and secure a wide variety of contracts with business and government organisations including: Allianz Group, Belfast Health and Social Care Trust, Belfast Metropolitan College, Elavon Financial Services, FBD Insurance, Randox Laboratories, ROI Department of Social Protection, NI Department of Finance & Personnel, the Police Service of Northern Ireland and Tourism Ireland. BT Business recorded double-digit percentage revenue growth in IT services/hardware for the third year running, cementing BT Ireland's position as a leading partner of Avaya, Cisco, EMC and HP. In Northern Ireland, BT Business sales of fibre broadband, BT Infinity, more than trebled year on year as businesses adopt superfast broadband to underpin their growth.
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