BT announce drop in revenues

BT Group plc have announced a 4% drop in revenues to £5.6bn (€6.6bn) in its results for the first quarter to June 30, 2010.

The results also show that operating costs reduced by £291m (€347m) year on year while their pre-tax profits rose 17% to £446m (€533m).

Ian Livingston, Chief Executive, said: "We have made an acceptable start to the year, delivering improved financial results while investing in the future of the business. In TV we are offering great value premium sports packages and can now compete on a more even playing field.

"We hit the first major milestone in our fibre roll out, passing over 1.5m premises, and we are now running at an average rate of around 100,000 premises passed every week. In BT Global Services we continue to win significant contracts due to our ability to deliver a world class service to our customers.

"Despite the challenging environment, these financial results underpin our outlook for the full year."