BT results include NA expansion

Most of the focus on the financial results announced earlier today by BT was understandably on the company’s 16 percent increase in annual earnings and a broadband surge that re-established the company as the U.K.’s largest broadband provider.

But included in those results was a significant North American expansion for BT Global Services, which posted a 30% increase in revenues in this region for the quarter and a 20% increase for the year, making this the company’s fastest growing region. Business in Europe and Asia, where BT has operated for a longer period of time, grew at 10% and 20% for the year respectively.

Overall, BT Global Services increased revenues in the fourth quarter by 17% by signing about $18.4 billion in contracts.

The global unit also saw significant expansion in the 2006-2007 year through the acquisition of INS, a US-based global provider of IT consulting and software solutions and managed Internet security provider Counterpane. The company set up a joint venture with KDDI in Japan and established an Indian JV as well, BT Telecom India Pvt. Ltd.

In the U.K., broadband Internet and data-network services, which BT calls its ‘New Wave’ grew as traditional telephone revenue declined. The company added 245,000 broadband users, on DSL, and regained its number one broadband provider status over Virgin Media, which became number one last year with its acquisition of NTL: Telewest. BT said it now has 26% of the market with 3.66 million.

The company reported an increase in income from $772 million to $898.1 million but saw its stock fall slightly because analysts had predicted greater sales gains. Notably the company also said it will buy back 2.5 million shares of its stock.