Profits jump 20% at BT

28th Jul 2011 08:27

BT's profits jumped by a fifth in the first quarter, as the phone and telecoms giant was able to achieve a majority market share in new broadband connections.Pre-tax profit jumped by 20% in the three months to 30 June, from £446m to £533m. Earnings per share rose by 18% to 5.2p."We continue to make progress towards delivering our financial, operational and growth goals," said chief executive Ian Livingston.Digital subscriber line (DSL) broadband net additions totaled 251,000 in the period, of which BT's market share was 56% (141,000). "Our super-fast broadband network has now passed over 5m premises and the customer base has almost trebled in the last six months," Livingston said.However, revenues fell by 5% from £5,006m to £4,764m.Nevertheless, the group said that the figures add to its confidence in delivering its full-year outlook.BT Global Sevices' order intake totaled £1.6bn in the period, and Livingston said that the division "is making further progress in high growth economies and secured its largest ever contract in Latin America."Shares rose 1.84% higher to 194.20p at 09:10.BC