BT Ireland profits climb 4% on back of contract wins

BT Ireland yesterday announced all-island financial results for the year to the end of March with profit up 4% on a yearly basis.

The increase in profitability was driven by by success with fibre broadband and major contracts, and continued cost management, the company said.

Similarly, revenue increased by 2% to £635m (€856.5m) year on year excluding transit revenue and the impact of foreign exchange movements.

At group level, BT boss Gavin Patterson hailed a “ground-breaking year” as the telecoms giant posted a better-than-expected annual profits haul of £3.17bn.

The 12% increase in adjusted pre-tax profits for the year comes after the group recently secured another three years of Premier League football rights and announced the £12.5bn takeover of the UK’s biggest mobile phone operator EE.

BT’s consumer division, which has been buoyed by the offer of top-flight football to broadband customers, grew operating profits by 32% to £614m for the year to the end of March, with revenues up 7% to £4.02bn.

Mr Patterson said: “It’s been a ground-breaking year for BT, in which we’ve made some key decisions and announced some major investments to underpin the future growth of the business. We have delivered or beaten the outlook we set at the start of the year.”

The chief executive said BT Sport TV channels were now in more than 5.2m UK homes. BT will show Champions League football from this autumn after snapping up the rights for £897m. It recently agreed to pay £960m to show 42 Premier League games a season for three years from 2016/17.