BRITISH TELECOM REPORTS 17.9% DECLINE IN QUARTERLY PRE-TAX PROFITS...
On July 29, British Telecom (BT) announced a 17.9% fall in pre-tax profits for the first quarter of the current financial year to GBP723 million, due in large part to the losses sustained by subsidiaries and joint ventures in continental Europe, though BT remains confident that loss-making enterprises are merely suffering the consequences of investments in development. Turnover is up 10.4% from GBP3.844 to GBP4.239 billion. The group suffered a first quarter loss of 5 million pounds through its holding in Cegetel...
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