Esat BT has announced a strong performance in the nine months to December 31, with revenues growing 29% to €268m. EBITDA - earnings before interest, taxes, depreciation and amortisation - increased to €24m.
Results for the third quarter showed revenues growing by 37% year on year to €96m and EBITDA up to €12m.
Esat BT's CEO Bill Murphy said the company's performance was underpinned by its successful drive on broadband.
But he warned that a number of key challenges remain for the industry to overcome, especially in respect of broadband delivery. He called on ComReg to undertake a comprehensive review of the current wholesale broadband model.
During the three month period, Esat BT secured several major deals including Anglo Irish Bank, Glanbia, Bank of Ireland, Roches Stores, Heitons and the Grafton Group.
'We have a strong balance sheet, and a solid, focused business which is showing true, sustainable growth,' Mr Murphy said.
Meanwhile, Esat BT's British parent group, BT Group, said it delivered better-than-expected fiscal third-quarter profits after strong demand for its 'new wave' products outweighed another decline in its traditional voice business.
For the three months to the end of December, BT reported a 4% rise in profit before taxation, goodwill amortisation and exceptional items from the same quarter the previous year to £545m sterling. The performance exceeded the consensus forecast of £530m.
Sales for the period rose 3% to £4.584 billion as revenues from 'new wave' products - such as broadband Internet access and other Internet communications technology services - jumped 35% to £1.135 billion.
BT, which sees its new wave offerings making up for declines to its voice business, said turnover from the group's traditional businesses was down by 8% in the third quarter as its share of Britain's fixed-line market dropped 1.3 points to 63%.
'Our transformation strategy has now delivered underlying revenue growth in four consecutive quarters,' said chief executive Ben Verwaayen in a statement. 'These results justify the confidence we have in our strategy.'
