BT reports fall in profits

BT posted a further fall in profits today after its troubled IT services division continued to overshadow better trading at its retail arm.

Underlying earnings declined 3% to £1.37bn (€1.6bn) in the quarter to June 30, driven by a 66% year-on-year fall in global services, the division which carries out IT networking services for clients such as the NHS and Nationwide in the UK.