Esat BT profits a pleasant surprise

ESAT BT surprised investors with higher-than-expected profits, driven by growth in demand for high-speed broadband services.

BT said its transformation from a traditional fixed-line operator accelerated in the three months to June 30, with “new wave” technology now accounting for 20% of revenues.

It also celebrated a second consecutive quarter of underlying revenues growth, up 1% to £4.57 billion after turnover from services such as broadband and voice data technology rose 32% to £936 million.