BT raked in profits of #2.5 billion for last nine months of 1996 -- nearly #1 billion more than the same period in 1995.
The results were published as its middle managers and professionals voted to take industrial action over its annual pay rounds in April (see separate story).
The .73 billion profits were hit by a #274 million redundancy charge for 4,000 jobs in the last nine months of 1996 -- an increase of #91 million from the same period in 1995.
Profit from the third quarter until December leapt 10 per cent to #909 million. Turnover for the period rose 4 per cent to #3.8 billion.
BT attributed the growth to its expanding overseas operations, telephone exchange line rentals and mobile communications. Oftel-demanded price cuts helped customers save #500 million in the nine month period, calculated BT.
Demand for high speed ISDN lines grew by 5.3 per cent while turnover from mobile communications leapt 11.7 per cent, reflecting the 16.7 per cent growth in BT?s Cellnet customer base. In December Cellnet numbered 2.7 million customer connections.
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