Chairman's Statement
1995/96 was another challenging year. Despite a tough regulatory climate, increasing competition and a general slowing of the economy, your company continued to develop its business in the UK and in major overseas markets.
Turnover grew 4 per cent and we were pleased to be able to recommend a final dividend for the year of 11.25 pence per share, bringing the total for the year to 18.7 pence, an increase of 5.6 per cent on last year.
(In total, we set aside £1,184 million for dividend payments, compared with £1,108 million a year ago.)
In the pages that follow, you can see for yourself how BT is leading the way, by offering our millions of customers unrivalled communications expertise, excellent service and exceptional value for money.
I hope you will also get a sense of your company's importance to the UK economy and of the part we are playing to build the "Information Society" of the future.
Sir Iain Vallance Chairman 21 May 1996
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Chief Executive's Statement
I have now been with your company for nearly five months, but it didn't take that long to discover that BT is facing enormous opportunities in one of the most exciting and dynamic industries in the world today.
BT's vision is to become the most successful worldwide telecommunications group.
We are one of the few companies in the world that could even aspire to such a goal, and we will get there by being even more focused on the needs of our customers.
We need to be more innovative, flexible and responsive; and I am determined to drive responsibility and accountability down the organisation to achieve this.
One of my key priorities is to continue to deliver world-class services to all our customers at a cost that compares with the best in the world. To do this, we must grow the market for basic services in the UK; build on our commitment to new, advanced, interactive services; and continue to expand into markets outside the UK, as they open up.
Sir Peter Bonfield CBE Chief Executive 21 May 1996
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