BT's budget cuts keep cash flow above estimates

07/25/2013 | Bloomberg Businessweek

BT Group reported a 4.9% increase in adjusted profit before tax, beating analysts' estimates, as cost-cutting measures helped keep cash-flow losses lower than expected. BT has sliced capital and labor costs amid an expensive effort to build up the telecom's sports content. Global services reported a 50% rise in new orders, although revenues slipped 2%. BT's largest unit, its retail business, remained steady from a year ago.

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