LONDON: BT Group plc, Britain’s dominant fixed-line phone company, has reported a 38% drop in third-quarter net income compared with the same period a year earlier on modest growth in sales.
However, the previous year’s net income was inflated by a large one-off gain from the sale of property, and BT said its latest quarterly operating profit – a more meaningful measure of its performance – actually showed strong improvement, coming in at £752mil for the three months to Dec 31, 2002. The figure was up 43% from £426mil a year earlier.