With High Speed Broadband BT to Gather Rewards

Monday, May 7th 2012

The telecommunications giant BT with their strategies for cost-cutting is in the throes of gathering the rewards of their programme, in addition to pumping in an amount of 2.5 billion for high speed broadband. Even before the complete year’s profit results were announced, forecasters Goldman Sachs stated that the company is all ready to gather the benefits of their financial prudence and the provision of their fibre technology.

The census predictions for the year 2012 state that profits before tax amounts to 2.45 billion pounds via revenue of a 19.3 billion pounds. This is in comparison with the previous years 20 billion pounds and pre-tax profits of 2 billion pounds. It is anticipated that pre-tax profits would increase to 2.65 billion pounds the coming year. The viewpoint of earnings is the most recent wonderful news for BT that seemed to have increased with Chief Executive Ian Livingston at the helm.

Two months ago in March, BT had declared that the company would completely pay out 4.1 billion pounds which was the arrears in their staff pension fund. This seemed to be happening faster than what the company had planned earlier, thereby creating opportunities for better bonuses. The firm has concurred with trustee of their pension programme to commence paying up the shortfall at once with a payment of 2 billion pounds.

As per BT’s target, they have plans to provide 2/3rd of the people in the UK with fibre optic broadband connectivity in the course of the next 2 years before the end of 2014. The technology is being delivered all over the country to every exchange.

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