BT maintains growth rate

Strong demand for broadband and “new-wave” services ensured telecoms group BT delivered quarterly results at the top end of market expectations today.

The group posted revenues of £4.94bn (€7.4bn), a gain of 4%, while underlying earnings rose 2% to £1.42bn (€2.1bn) in the three months to September 30.

Chief executive Ben Verwaayen said the second-quarter figures reflected a “strong team performance with every part of the business playing its part”.

BT said its confidence in future prospects was highlighted by a 19% increase in its half-year dividend payment to 5.1p a share.

The company said its retail division passed three million broadband connections in October, while its corporate arm secured “major transformational contracts” with customers including PepsiCo and Vodafone.