BT Ireland finds it hard going: first-half revenues down 4% due to competition

11 Nov 2010

BT Ireland booked a 4% fall in first-half revenues to GBP373.6 million (USD599 million) amid intense competition in a challenging market. Nevertheless, the telco posted a 14% increase in EBITDA on the back of cost-rationalisations and a slew of new retail and wholesale contracts. In the last six months the company has inked major contracts with eBay, VHI Healthcare, Danske Bank, Glanbia, Pinebridge Investments and Element Six, it said. BT Ireland chief executive Graham Sutherland said his firm was making ‘strong progress’ but warned that ‘Revenues remain under pressure because of the challenging economic conditions, but by investing where our customers want us to invest and innovate, we are securing a healthy volume of contracts with business, government and wholesale customers.’ He went on to add ‘We have had double digit percentage profit growth for the fourth consecutive year, driven by our relentless focus on both cost transformation and the successful delivery of our contracts with Irish and international organisations.’ Going forward BT Ireland is looking to expand its fibre networks in urban and rural areas which, Sutherland says, are essential for consumers and businesses.

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