BT year-end reports show 4% increase in profit

Trade

Pictured: Colm O'Neill, BT Ireland

BT Ireland today announced the financial results of its all-island operation for the year ending 31 March 2015.

Revenue increased by 2% to £635 million year on year excluding transit revenue and the impact of foreign exchange movements. Profit was up 4% year-on-year, driven by success with fibre broadband and major contracts, and continued cost management.

Colm O’Neill, CEO, BT Ireland (pictured), said: “We’ve delivered a solid year of growth in revenues and profits in a very competitive sector. Investments in network infrastructure, data centres and product development have underpinned this growth with BT increasingly becoming the partner of choice for multinational and large indigenous organisations requiring global connectivity and IT services.”

BT Ireland has grown its share of the fixed line market (retail and wholesale) to over 17% in the year, according to the latest quarterly report by ComReg, making it the second largest fixed line operator. In the wholesale sector, more than 50 communications companies are now using BT services to connect their customers in Ireland including Carphone Warehouse, and Sky Ireland whose voice and fibre broadband services are supported by BT.

In the business sector, growing demand for wired and wireless networks, global connectivity, unified communications, cloud and data centre services resulted in a significant number of new business deals including Kerry Group, Icon and Skillsoft, whilst the company delivered new services to existing customers such as Bank of Ireland and Elavon.

TechCentral Reporters

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