By Sally Watson, 7 February 2002 09:45
NEWS BT has this morning released third quarter results down 21 per cent on the same period last year. Profits before tax fell to £381m from £483m, but the telco said when it removed discontinued activities including the demerged mmO2 mobile division, profits actually rose to £850m from £760m in the third quarter of 2000. Turnover for continuing activities was £4.6bn, up from £4.4bn, and earnings before tax rose to £1.51bn from £1.49bn. The results were broadly in line with market expectations. BT said its net debt was cut by £2.9bn to £13.6bn. BT appointed a new finance director on Monday. Ian Livingstone became the third person to hold the post at the telco in the last 14 months.
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