British telecoms group BT sees profits surge

British telecoms group BT said on Thursday that net profits jumped 24.0 percent in the group's second quarter on the back of deep cost cutting. Earnings after taxation grew to £494 million ($791 million, 575 million euros) in the three months to September, compared with £431 million in the same period of 2010, BT said in a results statement. Sales slid 10.0 percent to £4.48 billion as the group's customers made fewer landline telephone calls. "We expect to continue to offset the economic headwinds through improved customer service and processes, better efficiency, and investment in the future of the business," said chief executive Ian Livingston.