BT Outlook Improved Amid Pension and IT Services

BT Outlook Improved Amid Pension and IT Services

BT today reported second quarter profits of £677m - a six per cent fall on the £722m earned in the year ago quarter. The IT company is in the process of restructuring following two profit warnings last year and problems, a supplier of IT services which has struggled with some troublesome contracts such as the National Programme for IT.
Chief executive Ian Livingston was cautiously optimistic about the IT Support they provide. “We have had another quarter of progress but there remains a lot more to do, " he said. "With total cost reductions of over £900m in the first half, we have made significant headway towards our previous target of well over £1bn for the full year."