TELECOMS giant BT issued a surprise profits warning today after a division providing services to multinational companies failed to hit targets.
BT said its Global Services arm continued to grow strongly, but the slower-than-expected delivery of cost savings had hit earnings. It also blamed a continued decline in higher margin UK business.
BT said underlying earnings for the group in the second quarter of the financial year will be slightly below expectations.
All the company’s other divisions, had continued to deliver results as expected.
