Euronews: BT Profits Up 36% in Q2

BT Group plc (NYSE: BT; London: BTA), Cable & Wireless Communications and Telefónica SA (NYSE: TEF) share the limelight in today's parade of EMEA telecom headlines.

  • U.K. incumbent BT, which this week announced its fiber rollout was a year ahead of schedule, revealed fiscal second-quarter pre-tax profits were up 36 percent year-on-year at £552 million (US$881 million), with its once-problematic Global Services arm looking in particularly fine fettle. (See BT Reports Q2 Profit of £552M, Euronews: BT Speeds Up FTTX Rollout and BT Ramps Up Its FTTX Speeds.)

  • Mobile data has helped drive up revenue and profits at Cable & Wireless Communications, the U.K.-based operator that makes most of its money in the Caribbean. First-half revenue was up 24 percent year-on-year to $1.4 billion, and net profit (before exceptional items) up 9 percent to $163 million. (See C&WC Reports $108M Profit in H1.)

  • Mobile giant Telefónica plans to cut costs by radically reducing the number of handsets it offers, from 240 down to less than 100, reports Reuters. (See Telefonica Restructures, Creates New Units.)

  • Portugal Telecom SGPS SA (NYSE: PT) surpassed many analysts' expectations with its third-quarter results, reports Reuters, posting a net profit of €105.6 million ($145.7 million). (See Glimmers of Hope for PT and Viva La Vivo Deal.)

  • CityFibre , which plans to build multiple optical fiber rings in the U.K. and hook up British households with FTTH (fiber-to-the-home) connections, has appointed Macquarie Capital as its chief fundraiser. (See CityFibre Appoints Macquarie for Fundraising.)

  • EE , the joint venture between T-Mobile (UK) and Orange UK , is garnering more column inches on two fronts. First, a report by MPs is recommending that the money the operator makes from the sale of spectrum (which was a condition of the merger that produced the joint venture) be ring-fenced for future investment, writes The Guardian. And, second, the Daily Telegraph reports that the operator is going to shed another 600 or so members of staff, with sites in London, Bristol, Hatfield and Darlington all being affected. Call it the Olaf Effect. (See CEO Quits Everything Everywhere and Everything Everywhere Reports Q3.)
  • Middle East operator Zain Group saw third-quarter profit fall 13 percent year-on-year, though Bloomberg notes that the comparisons are complicated by Zain's sale last year of most of its African assets to India's Bharti Airtel Ltd. (Mumbai: BHARTIARTL). (See Bharti Secures $10.7B African Acquisition.)

  • Keymile AG , the Germany-based access equipment vendor, has been acquired by The Riverside Company and Halder, both of them private equity firms. The value of the deal was not disclosed.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

  • Be the first to post a comment regarding this story.
    Sign In