BT has seen a bigger than expected growth in profits for the last 12 months, something the firm has put down to particularly strong broadband subscriber figures for the year.

As part of the company's annual results, the firm reported full-year profits of £1.7 billion - up by 71 per cent when compared to 2009-10 - a figure boosted by the fact the telecoms provider saw the number of people signing up to its broadband services reach an eight-year high.

Overall, BT's retail arm grew by two per cent to £1.34 billion in 2010-11, with more than a quarter of a million (252,000) new customers signing up to its Openreach product in the last three months of the financial year.

Chief executive Ian Livingston said: "These results show we are making progress, but we are well aware there remains a lot more to do."

He added that the company has also greeted 144,000 new customers to its superfast broadband services in the last year, while 30,000 homes have signed up to BT's Vision broadband TV service over the same period.

Additionally, BT helped to reduce losses for its Global Services division to £141 million, while at the same time implementing cost savings across the company totalling £900 million - and despite this total being less than that seen in 2009-10 (£1.75 billion), the savings were not reliant on job losses across the group.

Furthermore, the telecoms provider stripped out one-off charges over the last year and still reported adjusted profits that were 20 per cent higher at £2.1 billion.

The company also recently announced it has signed a Deed of Understanding with the Cabinet Office to provide use of its infrastructure to the Public Sector Network programme, which aims to create a nationwide network for use by government departments, educational institutions, local authorities and other public bodies.
 

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