BT full year profit flat, revenues up

• IBTimes RSS
• Print
• E-Mail
• digg
• Del.icio.us

The company said that earnings per share had risen five per cent to 23.9 pence per share and proposed a full year dividend of 15.8 per cent, up five per cent.

In the fourth quarter of the financial year revenue was up two per cent to £5,422 million, pre-tax profit rose three per cent to £714 million, whilst earnings per share increased 11 per cent to seven pence per share.

Sir Michael Rake, chairman of BT, said, "I would like to express my and the Board's thanks to Ben Verwaayen who is stepping down as Chief Executive at the end of this month. Ben has been an exceptional CEO who has transformed the business through his vision and determination. Under his leadership, BT has developed a strategy which has delivered consistent profitable growth and laid strong foundations for the future.

Rake continued, "In 2008/09, we expect to deliver continued growth in revenue, EBITDA and earnings per share as we continue our transformation from a fixed-line business into a software-driven global communications services company. We also expect our free cash flow to be at a similar level to last year. I am confident that we have the right strategy and people in place to continue to deliver value for our shareholders and expect to increase dividends per share in 2008/09."