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BT ANNOUNCES NINE MONTHS RESULTS TO DEC. 31, 1991

 BT ANNOUNCES NINE MONTHS RESULTS TO DEC. 31, 1991
 LONDON, Jan. 30 /PRNewswire/ -- Iain Vallance, chairman of


BT (formerly British Telecom), said today:
 "In the announcement of the half year's results, I said that near term prospects would be depressed by competitive and regulatory pressures in the absence of any significant growth in turnover.
 "In the event, turnover in the third quarter was almost flat, as there was insufficient growth in the economy to offset competitive pressures and the first full quarter's impact of the new and tougher price cap. Near term prospects remain depressed."
 Results
 BT's earnings per share for the nine months to Dec. 31, 1991 were 25.6 pence, an increase of 1.0 percent over the corresponding period in the previous year. Profit before taxation was 2,369 million pounds sterling, an increase of 2.2 percent. Profit after taxation was 1,599 million pounds, also an increase of 2.2 percent.
 Earnings per share for the third quarter were 8.2p, a decline of 4.6 percent against the third quarter of the previous year, and pre-tax profit was 759 million pounds, a decline of 3.6 percent.
 BT's turnover for the nine months increased by 1.8 percent to 9,924 million pounds. The most significant increase was in telephone exchange line rentals, which grew by 12.4 percent to 1,564 million pounds, reflecting mainly the price rebalancing on this service in September 1990 and 1991, but also the increase in exchange connections of 1.5 percent in the 12 months to Dec. 31 1991. The number of business exchange lines grew by 2.0 percent in that period and residential lines by 1.3 percent.
 Inland telephone call revenues grew by 1.1 percent in the nine months but declined 1.5 percent in the third quarter compared with the corresponding periods in the previous year. Call volume growth was two percent on a 12-month moving average to Dec. 31 1991. The third quarter decline in inland call revenues was attributable to the overall price reductions, particularly those introduced in April 1991 and the new high user discounts introduced in September 1991, offset only in part by the new directory enquiry charges from April 1991.
 International telephone call revenues declined marginally to 1,350 million pounds for the nine months.
 -0- 1/30/92
 /CONTACT: Peter Kinsella of BT, in London: 44-71-356-5373/
 (BTY) CO: BT (formerly British Telecom) ST: IN: TLS SU: ERN


TS -- NY012 -- 5027 01/30/92 06:28 EST
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Date:Jan 30, 1992
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