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The company said turnover was STG4.7 billion in fiscal Q4, up from five percent from the last quarter and eight percent from this time last year. Pre-tax profits were STG371 million, up 43 percent from last quarter, but down 28 percent from last year. The pre-tax profit figures were significantly ahead of market expectations.
The company had net exceptional charges of STG2.9 billion since the last quarter, but net exceptional gains of STG0.8 billion since last year and importantly BT's net debt has been reduced from STG27.9 billion to STG13.7 billion over the past 12 months.
EBITDA was STG1.43 billion for the fourth quarter, down from STG1.47 billion this time last year. The company also announced a final dividend of STG0.02 per share.
Revenues for Esat, BT Ignite's Irish subsidiary, were EUR259 million, up 31 percent from EUR189 million a year ago. BT Ignite is BT's business focused broadband and IP data solutions division.
"Esat have experienced significant growth over the last year," said Una McGirr, director of corporate communications with Esat. "We now have 31 percent of the corporate market and 44 percent of paying Internet customers," she told ElectricNews.Net. McGirr estimated that Esat also has around 21 percent of the SME and residential telephone market.
Responding to recent speculation, McGirr said, "We have no plans to pull out of the residential phone market, but we do plan to focus on the high end of that market." McGirr said that although Esat is being rebranded as BT Ignite, residential users will still be serviced under the Esat brand. BT Ignite will focus on the 300 or 400 top European corporate customers, providing a variety of telecom, network and computer services, she added.
"We're moving away from selling products and more into selling full wraparound solutions," said McGirr.
BT is now completely demerged from the mobile phone business units, which it owned in Ireland, UK, the Netherlands and Germany. These four companies have now been merged and rebranded as O2.
Esat employs 1,150 people in Ireland, which is 200 less than the company had before the completion of its voluntary redundancy program, which began three months ago. Esat has now begun rehiring for regional sales managers.
"We're looking to get our cost base in order, to get people focused and to give Eircom a run for their money," McGirr said. "We have the advantage of being part of a European group, whereas Eircom has yet to find a partner in Europe."
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