BT rings up 21% surge in profits

BT IRELAND’s first-half profits increased by 21%, on a year-on-year basis, leading the company to maintain that it is building on its aim to become the leading networked IT services provider in the Republic.

While gross margin improved by 7% during the six months to the end of September, revenue for the group’s Irish division fell by 3% to £397.8 million (€442.2m). However, despite this, revenue has been improving on a quarterly basis – down by 5% in the first quarter and down by 2% in the second.

“Our strategic shift to higher value managed services and our relentless focus on cost management has enabled us to make outstanding progress on profitability,” BT Ireland chief executive, Chris Clark said yesterday.