Overcast

Overcast

max temp: 18°C

min temp: 16°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

UK: Broadband boost for profits at BT

11:53 01 February 2013

BT chief executive Ian Livingston

Photo: BT/VisMedia

BT chief executive Ian Livingston Photo: BT/VisMedia

Archant

TELECOMS giant BT said today that it attracted 122,000 new broadband customers in the final three months of last year as it continued its march on the internet market.

The group recruited extra engineers to speed up roll out and repairs after one of the wettest years on record, helping it increase the number of new retail customer numbers added by 50%, up from 81,000 the previous quarter.

BT, which is spending £2.5billion rolling out its fibre broadband network, said it reached 13 million premises in December, and including other providers who use its Openreach network, it installed broadband in 281,000 homes in the period.

Its television service BT Vision also attracted a further 21,000 new customers, helping the group report a better-than-expected 7% increase in pre-tax profits to £675million in the three months to December 31.

Chief executive Ian Livingston said: “Take-up is growing strongly with around 1.25 million homes and businesses now enjoying the benefits of faster speeds. This gives us an excellent platform for our push into TV and sport later this year.”

Last year the company announced an agreement for broadcast rights for Premier League football and Premiership rugby, with BT Sport launching this summer, with Formula 1 presenter Jake Humphrey fronting its football coverage.

And the group, which is opening television production facilitates in the London Olympic Park, said its “pre-season” training was going well.

The group still posted a 6% fall in revenues to £4.5bn in the three months to December 31 as its global division, which provides services to businesses, was hit by tough trading conditions in Europe and the financial services sector.

But shares in BT rose 5% following the company’s update as investors focused on the better-than-expected rise in profits.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: “As it sprawls out into becoming something of a media company, BT continues to show its strength in its more traditional markets.”

But he warned revenues were under pressure given the wider economic backdrop and fragile corporate confidence, and also said the fierceness of competition in the market showed little sign of abating.

Search hundreds of local jobs at Jobs24

0 comments

A computer-generated image of how the Sizewell complex will look after construction of Sizewell C.

Britain is set to get its first new nuclear power station in generations as EDF’s directors approve investment in Hinkley Point.

A Lloyds Bank branch in Halesworth. Lloyds Banking Group has announced it will close 200 branches and cut 3,000 jobs.

Lloyds Banking Group is cutting 3,000 jobs and shutting 200 branches as the lender braces for a cut in interest rates following Britain’s decision to quit the European Union.

Damian Lewis as Bobby

Game Of Thrones broadcaster Sky has brushed aside economic uncertainty surrounding Britain’s referendum on the European Union to drive up revenues and profits.

Almost 400,000 customers deserted British Gas in the first half of the year as its parent firm, Centrica, saw profits take a dive.

Almost 400,000 customers deserted British Gas in the first half of the year as its parent firm, Centrica, saw profits take a dive.

Suffolk Chamber of Commerce chief executive John Dugmore unveiling the chamber's new-look branding at a summer garden party held at Willis Towers Watson Rooftop Garden in central Ipswich.

Suffolk Chamber of Commerce has unveiled its new branding and identity at a ceremony in Ipswich.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24