BT has reported its results for the three months ended December 31, 2001. Turnover increased from £4.37 billion to £4.66 billion. Pre-tax profit fell to £381 million from £483 over the same period.
Ben Verwaayen, BT Group’s new chief exec said that his primary objectives are to enhance BT customers’ satisfaction and to grow BT’s business. He also confirmed plans to make broadband a key priority and to cut wholesale DSL costs.
The company’s BTopenworld mass-market ISP business also saw an increase in turnover but continued to lose money although at a reduced rate. The business saw turnover increase to £59 million from £38 million during the same period the previous year.
The division’s narrowband business generated revenues of £31 million for the quarter much higher than its broadband business, which pulled in £12 million. BTopenworld’s virtual ISP business made up much of the remaining £16 million of revenue.