• Key points for the fourth quarter:

    • Revenue of £5,292 million, up 3 per cent
    • New wave revenue of £2,117 million, up 14 per cent, represents 40 per cent of total revenue
    • EBITDA before specific items and leaver costs of £1,537 million, up 3 per cent
    • Profit before taxation, specific items and leaver costs of £695 million, up 10 per cent
    • Earnings per share before specific items and leaver costs of 6.3 pence, up 11 per cent, the twentieth consecutive quarter of year on year growth
    • Broadband net additions of 0.8 million to 10.7 million at March 31, 2007. BT Retail’s share of net additions was 32 per cent

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

    “BT has come a long way in the past five years. This is a very strong set of results which demonstrates how much has been achieved. Revenue grew by 4 per cent and earnings per share before specific items grew by 16 per cent.

    “I am delighted to report that our proposed full year dividend is 15.1 pence per share, 27 per cent higher than last year, moving to a two thirds payout ratio a year earlier than we had previously announced. In addition, because of the financial strength of the company, we are introducing a new £2.5 billion share buyback programme which we expect to be completed by March 31, 2009.

    “We have delivered on our commitments and are confident we will continue to grow revenue, EBITDA, earnings per share and dividends over the coming year.”

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  • Key points for the third quarter:

    • Revenue of £5,126 million, up 5 per cent
    • New wave revenue of £1,880 million, up 17 per cent, representing 37 per cent of total revenue
    • EBITDA before specific items and leaver costs of £1,439 million, up 2 per cent
    • Profit before taxation, specific items and leaver costs of £643 million, up 13 per cent
    • Earnings per share before specific items and leaver costs of 5.8 pence, up 14 per cent
    • Specific items include a net credit of £1,067 million relating to the settlement of ten open tax years
    • Continued strong broadband net additions of 697,000 of which BT Retail’s share was 34 per cent

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

    “This is another strong set of results; our strategy is delivering and the positive trends are gathering momentum. The revenue growth of 5 per cent reflects continued strong growth in new wave services and a robust defence of our traditional business, underpinned by growth in active consumer customers for the first time in four years.

    “There are now more than 10 million wholesale broadband connections2 and the market continues to grow strongly. In an intensely competitive market BT Retail's share of the net additions2 in the quarter was 34 per cent. Openreach has reached 1.5 million LLU connections this month. The sales orders won by BT Global Services in the quarter were £2.5 billion.

    “After nineteen consecutive quarters of earnings per share3 growth, our expectations are to continue to grow our revenue, EBITDA3, earnings per share3 and dividends for this financial year and next.”

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  • Key points for the second quarter:

    • Revenue of £4,941 million, up 4 per cent
    • New wave revenue of £1,736 million, up 21 per cent, representing 35 per cent of total revenue compared with 30 per cent last year
    • EBITDA before specific items and leaver costs of £1,418 million, up 2 per cent
    • Profit before taxation, specific items and leaver costs of £665 million, up 12 per cent
    • Earnings per share before specific items and leaver costs of 6.0 pence, up 13 per cent
    • Continued strong broadband net additions of 626,000 of which BT Retail’s share was 25 per cent

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

    “These strong half year results show sustained momentum across the business with revenues up 3 per cent and earnings per share before specific items up 19 per cent.

    “I am pleased to report that we will be paying an interim dividend of 5.1 pence, up 19 per cent on last year, showing our continued commitment to improving shareholder returns and our confidence for the future.”

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  • Key points for the first quarter:

    • Revenue of £4,864 million, up 3 per cent
    • New wave revenue of £1,641 million, up 18 per cent, represents 34 per cent of total revenue
    • EBITDA before specific items and leaver costs of £1,386 million, up 2 per cent
    • Profit before taxation, specific items and leaver costs of £639 million, up 24 per cent
    • Earnings per share before specific items and leaver costs of 5.8 pence, up 26 per cent
    • BT Retail’s share of broadband net additions was 30 per cent
    • Broadband end users of 8.7 million at June 30, 2006

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

    “This is a strong all round performance to start the financial year, with the momentum we saw in recent quarters continuing. Revenue has increased for ten consecutive quarters; EBITDA3 was up 2 per cent, an improvement on the rate of growth we achieved last quarter; and earnings per share3 was up 26 per cent, the seventeenth consecutive quarter of growth.

    “Our international business is expanding strongly and we won more than 200 new customer accounts outside the UK in the quarter.

    “Our first quarter results underpin our confidence in our ability to continue to grow our revenue, EBITDA, earnings per share and dividends this year.”

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