BT's revenue rose 4.7 per cent and net profit rose 23.8 per cent for the second quarter.

A strong increase in revenue from "new-wave" services based on IP (Internet Protocol) compensated for a decline in BT's traditional voice telephony business, the company said today.

The company reported revenue for the quarter of £4.78 billion, up from £4.57 billion a year earlier. Net profit was £374 million, up from £302 million a year earlier.

Revenue from new-wave services, which include broadband Internet access, IP VPN (virtual private networks) and entertainment services, grew 48 per cent year-on-year.

In BT's Global Services division, revenue grew 18 per cent, to £2.07 billion from £1.76 billion a year earlier, with most of the growth brought by the acquisition of Italian operator Albacom and global networking company Infonet. Excluding the effect of these acquisitions, revenue in the division grew 6 per cent, BT said.