UK telecoms company BT said it made a profit of just over £1bn ($1.49bn) in the year to 31 March, compared with a loss of £244m during the previous year. Over the past two years, BT has cut cost, including the lay-off of about 35,000 staff - a fifth of its workforce.
BT is now ready to invest another £1bn in superfast broadband, said chief executive, Ian Livingston. The results sent the shares sharply higher in early trading. BT said the £1bn investment, on top of an already announced £1.5bn spend, would mean two thirds of UK homes would have access to super-fast broadband by 2015.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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