BT Ireland revenue rises to €864m on contract wins

A host of major contract wins helped BT Ireland to underlying annual revenue growth of 7% to the end of March.

The company’s accounts, which take account of its business on both sides of the border, show revenue grew to £681m (€864.6m), representing a 7% increase when currency movements are excluded.

Improved performance in both its business and wholesale segments drove the improved financial performance, according to BT Ireland managing director, Shay Walsh.

On the wholesale side, new deals with Three Ireland, Sky Ireland and Blacknight Internet Solutions provided a significant boost.

Blacknight signed a long-term agreement with BT for the provision of data centre, network and infrastructure services.

“If anything, the pipeline continues to grow,” Mr Walsh said.

“I suppose where we find ourselves in the Irish market is because of our global reach and Ireland’s open economy and connectedness with the States particularly, we find a lot of multinational corporations coming to Ireland are talking to us and indeed corporations that are already in Ireland.”

As overseas companies expand into Europe, BT is increasingly “getting the call”, he added.

The company’s data centre business is continuing to grow and now accounts for 10%-15% of its overall business. While still one of the smaller business segments within the company, the provision of data centres is of “strategic importance”.

On a group basis, BT reported core earnings of £6.58bn, comfortably ahead of analyst expectations.

Revenue was up 6%, including a contribution from EE, the mobile operator that become part of BT at the end of January, to £18.91bn.