BT rings up 56% rise in pre-tax profits

Telecoms group British Telecom today rang up a 56% rise in first quarter pre-tax profits, but said its year-on-year turnover remained flat.

The London-based group said pre-tax profits before one-offs and goodwill were £502m (€714m) in the three months to June 30, up from £322m (€458m) last time. The performance was ahead of market expectations.