BT expects to return to profit

BT is this week expected to announce a return to profit while also revealing it has cut 5,000 more jobs than expected. The firm, which recorded its first loss for eight years in 2009, is expected to report annual pre-tax profits of £1bn to £1.1bn, compared with a £134m loss in 2009. Concerns are likely to remain about the £9bn hole in the telecoms company’s pension fund.