BT 2010 Annual Report Download - page 7

OVERVIEW
CHIEF EXECUTIVE’S STATEMENT
5BT GROUP PLC ANNUAL REPORT & FORM 20-F
ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS REVIEW OF THE YEAR OVERVIEW
A better business, a better future
In the last year, we’ve taken decisive action with one aim in mind –
to make BT a better business with a better future. We are making
good progress. Of course, there’s a lot more to do but we have
established a much firmer base from which to invest in the future
of our company.
A better business
Our focus on improving customer service is paying off. Faults and
complaints have been significantly reduced. We will continue to
invest in training, systems and processes to deliver a better
customer experience. Reducing the time spent on fixing service
issues has been a critical factor in helping to transform our cost
base and, as a result, we have been able to free up the resources
to invest in new products and technology.
We have now set clear objectives for the next three years –
objectives that will help build a better future for BT.
A better future
The UK’s communications market is one of the most competitive in
the world and consumers have benefited from this. Real prices are
down more than 50% in the last 20 years and are among the lowest
in any major advanced economy.
We see significant opportunity to provide consumers with not
just great value but with a wide range of broadband-based
services. For example, BT Vision, our television service, where we
will be offering new channels, content and interactivity. The UK’s
small and medium-sized businesses will also benefit from our
investment in communications services that will enhance their
efficiency and capabilities.
Improving the financial performance of BT Global Services
remains an important priority. We’ve started to turn the corner with
five quarters of improved profitability and an impressive list of new
deals. Globalisation is here to stay and we will build on our position
as a global leader in networked IT services by enhancing our
product portfolio, and improving customer service and contract
delivery. We will also make targeted investment in areas of
potential profitable growth such as in the Asia Pacific region
where we already have a strong market presence.
BT is the largest communications wholesaler in Europe. Our
BT Wholesale business will continue to move into new markets,
winning deals with organisations like mobile operators, who are
choosing BT to run a large part of their infrastructure.
ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS REVIEW OF THE YEAR OVERVIEW
5BT GROUP PLC ANNUAL REPORT & FORM 20-F
Nowhere is competition more intense than in the broadband
market, where we are making one of the largest private sector
investments in Europe, spending £1.5bn to bring fibre to at least
40% of the UK in 2012. If conditions are favourable, we see no
reason not to extend this to around two-thirds of the UK by 2015
which will take our total investment to £2.5bn.
Our people
Our people have worked hard to improve service and efficiency,
often changing working practices to be available when and where
our customers need us. We have also reduced the number of people
working for BT, doing our best to protect the jobs of our permanent
employees. With retraining and support, some 5,000 people have
found new roles in the business. No small feat and one we are
proud of in today’s economic environment.
In the last year, we have made some tough, but necessary,
changes that are helping us to create the sort of company BT
needs to be, at the same time as providing new opportunities for
our people.
The right foundations are in place to make BT a better business
with a better future – for our customers, for our shareholders, and
for our people.
There is a lot more to do but we are heading in the right
direction. Thank you for your support in this journey.
IAN LIVINGSTON
CHIEF EXECUTIVE
12 MAY 2010
IAN LIVINGSTON
CHIEF EXECUTIVE