BT profits dented by cost of televised sport and Italian accounting scandal
The telecoms giant, seeking to rebuild its fortunes after an accounting scandal in Italy earlier this year wiped billions of pounds from its market value, said pretax earnings at its troubled global services business fell 39 per cent to £81million on 10 per cent lower revenue of £1.26billion, despite a boost from a weaker pound.
Thousands of jobs are being axed as global services, which provide network and IT infrastructure support to multinationals around the world, are overhauled to become a more focused digital business.
BT chief executive Gavin Patterson said “robust action” was being... read more
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