Sunday 25 February 2018

BT Ireland revenue down 3pc

John Mulligan

Revenue at telecoms group BT Ireland dipped 3pc to just under £750m (€857m) in the year to the end of March as tough economic conditions continued to impact the business.

But the company, whose figures reflect its activities across the whole island of Ireland, posted an 11pc rise in earnings before interest, tax, depreciation and amortisation (EBITDA) as cost-cutting filtered through to the bottom line and it delivered a number of large retail and wholesale contracts. The company doesn't divulge the actual EBITDA figure.

Among its clients are companies such as Ryanair, Web Reservations International and Cavan-based building materials firm Kingspan.

BT Ireland chief executive Graham Sutherland described the past financial year's performance as strong.

"We continue to transform our cost base, a process we began over four years ago, which is freeing up investment for us to inject into our Irish operations and the services we provide here," he said.

His comments came as parent firm BT, said full-year earnings of £5.89bn (€6.73bn) beat analyst expectations of £5.84bn (€6.67bn).

Irish Independent

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