Revenue slip at BT’s Irish arm but profits edge up slightly

Revenues fell by 6 per cent at BT’s Irish arm in the year to the end of March 2021, although operating profits edged up slightly, newly filed accounts show.

BT Communications Ireland Ltd, which employs nearly 700 people, recorded revenues of €350 million versus €374 million a year earlier. It attributed the decline in turnover to the transfer of a customer account to the BT Global division, and the impact of lower equipment sales.

The company reported operating profits of €37.5 million, as against €35.4 million in the previous year.

Managing director Shay Walsh told The Irish Times said this was driven largely by the increased sales of its core product offerings including inbound voice, network and security services.

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“We also experienced lower operating costs through continued digital transformation and the impact of the Covid-19 pandemic,” he said.

BT Communications Ireland provides global connectivity and networked IT services to both the public and private sector. It also offers wholesale network services to more than 50 communications companies. BT Sourced, the group’s new procurement company, has also been growing its footprint in Dublin and is currently recruiting 100 Dublin-based roles.

“Overall, company performance is in line with the previous year as we continue to build on our position as a leading provider of technology communications services to Ireland’s global multinational corporations,” Mr Walsh said.

“In the coming year, we will seek to further invest in areas of growth such as cloud services and open access fibre-to-the-premise technology for the wholesale broadband market.”

BT employed 677 people at the end of March 2021 and had staff costs totalling €63.2 million, which included share-based payments.

BT Group announced a new standalone subsidy in the Republic to manage its global procurement needs last year. BT Sourced, which employs about 70 people locally has a £13 billion (€15.4 billion) annual budget.