BT Q4 2010/11 results: guidance met but fundamental outlook unexciting
16 May 2011
BT met its full year guidance for the second year running, but new guidance reflects the weak revenue outlook and limited potential for further cost reduction
Group performance continues to hinge on capex levels, in particular deployment of next generation access, scheduled to continue until 2015
BT is not a financial basket case doomed to be eaten alive by mobile, satellite, cable or internet-based alternatives. But nor does it look like a huge growth story