ESAT BT revenues up 20%

Revenues at telecoms operator Esat BT increased by 20% to €289m to the year ended March 31, the company said today. Earnings before tax and interest rose to €38m.

Esat BT said that during the year it had secured a number a major contracts in the Information and Communications Technology sector, including a seven-year €151m deal with Bank of Ireland.

Chief executive Bill Murphy said the single billing system presented Esat BT with "exciting challenges" in the year ahead. He said that the Irish residential telephone market is "now open to true competition"

UK parent company BT posted a 10% increase in underlying pre-tax profits to £2.02bn (€3bn) for the year to March 31.