BT has announced its latest financial results – and pointed to a significant uptake in broadband internet as a key reason for profits and cash flow that were up year on year.

Revenue dropped for BT, a company that is investing heavily in fibre optic cabling in order to cope with the growing desire for superfast broadband.

But it was DSL growth that was picked out by the company – with BT adding 188,000 net additions, its most in eight years, and claiming a 53 per cent market share.

Ahead YOY

"Profits and cash flow in the quarter were ahead of last year," said chief executive Ian Livingstone.

"BT Retail had a good quarter with growth in business revenues and our highest share of DSL broadband net additions for eight years.

"Openreach benefited from a stronger broadband market and growth in its copper line base.

"BT Global Services is now expected to be cash flow positive this year, a year earlier than targeted.

"These results show that we are making progress on a number of fronts. There is always more to do but our performance underpins our outlook for this year and the period to 2012/13."

So, fibre may well be the future but for the time being copper wiring is still bringing in the bucks.