BT reported a slip in revenues in its interim results this morning, but for once, its Global Services arm was not the main culprit. The telecoms giant turned in overall revenues of £4.98bn for the six months ending 30 September, down 3 per cent on the year on an adjusted basis. "Adjusted" EBITDA was £1.4bn, up 3 per cent. …
I'm no expert in accounting or anything (in fact, I no precisely nothing about it), but those margins look TINY.
So, given that the reported figures are EBITDA, they are claiming £496M *pretax* on a EBITDA of £1.4 *BILLION*
Is it even worth it??
Wheres the fuckin' money going?
Apologies if I've got this completely arse about face, but my first thought was "holy sheeyat!". Perhaps we should have a whip-'round for them or something? I've got 50p...
Erm, a billion in accounting terms is one thousand million, not a million million. So thats a shy over one third in this case.
I am only a rounding error
But I'm looking forward to switching from BT next week.
revenue down, profits up... means only one thing
Someone somewhere is being well and truly put over a barrel.
It won't be the boss who will take an even bigger bonus than normal, will it be the workers, the customers, or both?
It could be one, or several, of many - reducing costs, lower interest payments through paying down debt, churning unprofitable business for more profitable revenues... A British company makes a profit and everyone howls - would we all prefer that Bt and other British companies made a loss and then got taken over by a foreign company? Then we can all complain about how Britain doesn't make anything any more and all our companies are owned by others.
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