BT reported revenue of £5,134 million for its fourth fiscal quarter (ending 31-Mar-2006), up 7 percent (5 percent excluding acquisitions). New wave revenue was £1,851 million, up 28 percent, represents 36 percent of total revenue. EBITDA before specific items and leaver costs was £1,498 million, up 1 percent.
Revenue for the full fiscal year was £19,514 million, up 6 percent (3 percent excluding the impact of reductions to mobile termination rates and acquisitions). New wave revenue were £6,282 million, up 38 percent, represents 32 percent of total revenue.
“This quarter’s results are a terrific set of numbers. They show BT firing on all cylinders, with EBITDA, revenue and earnings per share* all growing. These results provide further evidence that our strategy of embracing change is working. We have now delivered sixteen consecutive quarters of growth in earnings per share,” said Ben Verwaayen, BT’s Chief Executive.
Some highlights:
- New wave revenue is mainly generated from networked IT services, broadband and mobility.
- Networked IT services revenue grew by 22 percent to £1,214 million, broadband revenue increased by 44 percent to £421 million and mobility revenue increased by 41 percent to £82 million. Excluding Albacom and Infonet, the organic growth in new wave revenue was 23 percent.
- BT had 7.9 million wholesale broadband connections at March 31, 2006, including 356,000 local loop unbundled lines, an increase of 2.9 million connections year on year.
- Revenue from the group’s traditional businesses declined by 3 percent, continuing recent trends. This reflects regulatory intervention, competition, price reductions and also technological changes that we are using to drive customers from traditional services to new wave services.
- The underlying 12 month rolling average revenue per consumer household (net of mobile termination charges) of £251 increased by £1 compared to last quarter, with increased broadband volumes more than offsetting lower call revenues. Contracted revenues were 67 percent of the total, which is 4 percentage points higher than last year.
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