UKTONY@cup.portal.com (06/24/89)
The Annual Report of British Telecom just flopped through the letterbox. BT made UKP2437m pounds profit or UKP77.27 per second. [IBM makes UKP170/sec] The profit in 1985 was 1,461m and in 1988 2,292m Dividends have gone from 3.9p in 1985 to 10.5p this year. The chairman had a payrise of 56,000 to bring him up to 282,915 The BT Group has 7,340m in the bank. Income reached 11,071m of which 4,397m came from inland phone calls. The British public spent 1,548m on phone calls to 190 countries overseas. Some of this due to the growth of Facsimile traffic. The Telex usage went down by 21% though. What BT calls Other Servics, including IPSS had an income of 501m. Dispite a profit rise of 6.3% the amount to be used for an Employee Share Ownership Scheme will be only 30m this year against 38m last year. The exchequer will profit by 858m in taxation and 51% of the 636m in dividends. The goverment will also get 25% in income tax on the 311m paid to the public.