BT Global Services (BTGS) continues to drag down profit at the telecoms group, which reported a 13 per cent drop in operating profits for its most recent fiscal quarter.
BT reported revenues of £5.23bn for the three months ending 30 June 2009, up one per cent from the year-ago quarter. But its operating profits fell 13 per cent from £626m to £547m during that time.
In recent quarters, BT's financial results have been dragged down by the performance of BTGS, where on-going problems at high-profile engagements at the NHS and Thomson Reuters have seen the red ink flowing.
BTGS racked up a loss of £124m on revenues of £2.08bn in its latest fiscal quarter. Profits were also dragged down by charges relating to workforce restructuring and pensions.
But BT's chief executive, Ian Livingstone, said that there were signs of a turnaround within BTGS.
"We have made a solid start to the year against a background of challenging trading conditions. BT Global Services is making progress although there is still much to do," he said in a statement.
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