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February 13, 2009

BT sees users rise as profits drop

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by David Allen

BT has added eighty three thousand new customers to its retail broadband service, keeping it firmly on the top spot as the UK’s largest internet service provider, with 4.7 million customers.

However, at the same time the company has announced that its pre tax profits actually fell by a massive eighty one per cent, after they were forced to devalue existing contracts through BT Global Services by around £336 million.

The write off appears to have been the single cause for the majority of the loss, because having taking that into account the rest of the business is doing fine.

In fact excluding the write down the company’s losses would have been down by only nine per cent.

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