BT has had a string of problems including fraud in its Italian division and an enormous pension deficit Suzanne Plunkett / ReutersBT has announced a 4 per cent drop in quarterly earnings after a weak performance from its Global Services unit. The company said that adjusted earnings fell to £1.8 billion for the three months ended September 30, on revenues down 2 per cent to £5.9 billion. BT, which has been buffeted by a string of problems this year including the discovery of a huge fraud in its BT Italia division and fines from the regulator Ofcom, said that bottom-line pre-tax profits fell 22 per cent to £1.1 billion in the six months to September 30, with a 1 per cent fall to £666 million in the second quarter. It is also in the midst of carving off its Openreach broadband division into a separate business…

Source: The Times November 02, 2017 12:00 UTC