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BT quarterly revenues and profits fall after Global Services drop

Written by  Nov 02, 2017

BT has reported falls in sales and profit in its latest financial quarter as its enterprise-focused Global Services division reports double-digit drops for both.

Sales at the Global Services business fell by 10% to £1.26bn in the second quarter of its current financial year, which ended on 30 September, as the division’s profit plummeted by 39% to £81m.

There was better news for BT Consumer, where sales were up 1% to £1.26bn and EE sales increased by 4% to £1.32bn. BT Consumer profits were 3% down at £245m, while EE profits were 16% up at £326m.

Also see: Can I give up my landline and use 4G broadband instead?         

BT completed the £12.5bn acquisition of EE early last year, when the mobile operator became a new business unit in the wider group.

BT CEO Gavin Patterson said encouraging results in the consumer-facing business had helped to offset continuing challenges in the enterprise divisions.

The integration of EE and other cost-cutting programmes will bring savings, he said. “Our integration and restructuring programmes are also on track to deliver run-rate savings of £250m and £150m, respectively, by the end of this year,” he added.

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