• Key points for the fourth quarter:

    • Revenue of £5,134 million, up 7 per cent (5 per cent excluding acquisitions)
    • New wave revenue of £1,851 million, up 28 per cent, represents 36 per cent of total revenue
    • EBITDA before specific items and leaver costs of £1,498 million, up 1 per cent
    • Profit before taxation, specific items and leaver costs of £629 million, up 4 per cent
    • Earnings per share before specific items and leaver costs of 5.7 pence, up 8 per cent, the sixteenth consecutive quarter of year on year growth
    • Broadband net additions of 0.8 million, of which BT Retail’s share was 31 per cent

    Sir Christopher Bland, Chairman, commenting on the full year results, said:

    “This is an excellent set of full year results delivered in a competitive and fast-changing environment. Revenues for the full year have grown by 6 per cent; new wave revenues, which grew by 38 per cent to £6.3 billion, now represent around one third of the group’s business. We have continued to transform the business at a fast pace whilst growing our earnings per share before specific items by 8 per cent to 19.5 pence.

    “I am pleased to announce a full year dividend of 11.9 pence per share, 14 per cent higher than last year. We are confident in our ability to improve shareholder returns and accelerate the strategic transformation of the business.”

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  • Key points for the third quarter:

    • Revenue of £4,946 million, up 8 per cent (3 per cent excluding acquisitions)
    • New wave revenue of £1,607 million, up 42 per cent, represents one third of total
    • EBITDA before specific items and leaver costs of £1,404 million, down £8 million
    • Profit before taxation, specific items and leaver costs of £568 million, up 2 per cent
    • Earnings per share before specific items and leaver costs of 5.1 pence, up 4 per cent
    • Broadband net additions of 0.7 million, BT Retail’s share was 31 per cent

    Ben Verwaayen, Chief Executive, commenting on the third quarter results, said:

    “We have delivered yet another good set of results in a dynamic business environment.

    "Revenue has grown by 8 per cent and new wave turnover - which now represents one third of our business - is up 42 per cent. Earnings per share* have grown for the fifteenth quarter in a row and the improving trend in underlying EBITDA continues. BT Retail’s profitability has grown strongly driven by innovative products and services aligned with continued focus on cost management. Our international business continues to grow rapidly and now delivers services in more than 160 countries around the world. We are fast establishing ourselves as a global leader.

    “Broadband growth continues to be very strong with the number of BT Wholesale connections now standing at more than seven million. This is pushing the UK to the front of Europe in broadband take up. "The transformation of the business continues to deliver value to our customers and shareholders."

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  • Key points for the second quarter:

    • Revenue of £4,822 million, up 5 per cent
    • New wave revenue of £1,439 million, up 39 per cent
    • Profit before taxation, specific items and leaver costs of £596 million, up 7 per cent
    • Earnings per share before specific items of 5.0 pence, up 4 per cent
    • Net debt of £8,133 million, 3 per cent lower than previous year
    • Broadband end users of 6.2 million at September 30, 2005, up 89 per cent

    Sir Christopher Bland, Chairman, commenting on the half year results said:

    “The half year results show that we have delivered another good set of financial results and made further progress in transforming the business. “I am pleased to report that we will be paying an interim dividend of 4.3 pence, up 10 per cent on last year, showing our commitment to improving shareholder returns and confidence about the future.”

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  • Key points for the first quarter:

    • Revenue of £4,783 million, up 5 per cent
    • New wave revenue of £1,385 million, up 48 per cent
    • Group operating profit before specific items of £648 million, up 10 per cent
    • Profit before taxation and specific items of £511 million, up 20 per cent
    • Earnings per share before specific items of 4.5 pence, up 25 per cent
    • Net debt of £8,121 million, 4 per cent lower than previous year, including additional finance lease liabilities recognised under IFRS
    • Broadband end users of 5.6 million at June 30, 2005

    Ben Verwaayen, Chief Executive, commenting on the first quarter results, said:

    “This has been a great first quarter and builds on the momentum we have seen gathering for more than a year.

    “Revenue grew by 5 per cent in the quarter and earnings per share grew by 251 per cent. We have achieved real international success. We won global networked IT services orders of £2.4 billion in the quarter which takes orders for the last twelve months to a record level of more than £8 billion – a terrific achievement. In the UK, in a highly competitive market, we have launched a number of innovative services such as BT Fusion, a world first that delivers all the benefits of a fixed line from a mobile phone.

    “The transformation of the business is delivering real value to our customers and shareholders.”

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