BT gets to grips with the Internet

BT gets to grips with the Internet
Richard Wilson BT says it is getting to grips with the growth of its mobile communications and Internet data transmission businesses as it reports a 9.5 per cent rise in operating profit for the last 12 months. “Our profit improvement was turnover led, benefiting from the communications technologies of the future such as mobile, high speed data and the Internet,” said BT chairman Sir Iain Vallance. Vallance also indicated that the company was no nearer a full takeover of its Cellnet mobile phone joint venture with Securicor than it was a year ago. BT owns 60 per and Securicor 40 per cent of Cellnet, the UK’s second largest mobile phone operator, which was recently renamed BT Cellnet. BT’s total turnover is up by 13.6 per cent at ?18bn in the year and operating profit has increased by 9.5 per cent before exceptional items to ?3.5bn. Full pre-tax profit of ?4.3bn included a boost from the sale of BT’s investment in MCI Communications last September. Supporting the increase in data traffic, BT’s investment in network infrastructure was up by almost eight per cent to ?3.2bn.


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