BT Annual Report and Accounts




Chairman's statement

An interview with Chief Executive, Sir Peter Bonfield

Business review

Financial review

Report of the directors

Board of directors

Corporate governance

Auditors' report on corporate governance matters

Report of the Board Committee on Executive Remuneration

Statement of directors' responsibility

Report of the auditors

Five year financial summary

Accounting policies

Consolidated financial statements

Notes to the financial statements (1-10)

Notes to the financial statements (11-20)

Notes to the financial statements (21-27)

Subsidiary and associated undertakings

Quarterly analysis of turnover and profit

Financial statistics

Operational statistics

Regulatory statistics and information

United States Generally Accepted Accounting Principles reconciliations

Additional information for shareholders


  • Proposed merger with MCI announced to form group with annual turnover of around £26 billion
  • Prices reduced by over £800 million in the year
  • Strategic alliances and joint ventures in Europe and Asia announced or completed in year
  • Operating cash flow grew by 6 per cent to £6.2 billion
  • Capital expenditure maintained at over £2.7 billion
  • 6.1 per cent increase in ordinary dividends per share with a special dividend of 35 pence per share


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