Esat BT welcomes single billing
Thursday, 20 May 2004Irish telecoms operator, Esat BT, said this morning that its revenues increased by 20% to €289m to the year ended March 31. Earnings before tax and interest rose to €38m.
Esat BT said that during the year it had secured a number a major contracts in the Information and Communications Technology sector, including a seven year €151m deal with Bank of Ireland.
The company's chief executive Bill Murphy said that the advent of single billing presented Esat BT with what he called exciting challenges in the year ahead. He said that the Irish residential telephone market is now open to true competition.
Mr Murphy said that 2003/4 marked a significant turning point for the company. 'There has been solid growth in the corporate sector. Our credentials as a leading provider of network centric ICT solutions have been fully endorsed by our ongoing success in the corporate sector,' he said.
He said the company was looking forward to working with the public sector on a number of planned initiatives such as decentralisation and the broadband for schools programme.
He also said that Esat BT would continue to support the development of an All-Ireland ICT market for consumers and businesses by working closely with BT Northern Ireland.
Esat BT's UK parent, BT Group, reported a better than expected 19% rise in annual earnings, as it stemmed a revenue decline in its last quarter.
Underlying earnings per share rose to 16.9 pence sterling in the year to March 31, up from 14.2 pence a year earlier.
BT said that its annual revenues fell to £18.52 billion from £18.73 billion last year. Fourth quarter earnings rose 13% to 3.9 pence a share on a 1% rise in revenues.
