BT’s boss believes the telco still has work to do despite seeing pre-tax profits for its fourth quarter and full fiscal year grow in 2012.
The firm on Friday revealed profit for the year to end-March grew 11% to £2.6 billion (€3 billion), with EBITDA up 2% and operating costs down 6% year-on-year. The fourth quarter delivered a 21% year-on-year rise in profit to £833 million, a 4% increase in EBITDA, and a 2% reduction in operating costs.
While chief executive Ian Livingstone concedes the results leave the firm better positioned to achieve its long term goals, he noted further efforts are needed. “[W]e are investing in our future and delivering growth in profits and dividends,” he says, pointing to a 14% rise in shareholder dividend.
Livingstone points out the firm is focused on deploying fiber, Wi-Fi, and 4G networks, and delivering a range of content such as the premium sports channels it unveiled a day before its results.
While BT’s share price was already riding high on the announcement of its sports packages, analysts told Reuters the telco’s potential return to dominance may signal the start of a squeeze on pay-TV revenues in the UK market.