BT Vision adds 41,000
November 3, 2011
In something of a recovery BT announced 2nd quarter results ahead of expectations including a 24 per cent jump in net profit, underpinned by further cost cutting.
Net profit rose sharply to £494 million for the three months ended September 30 from £399 million a year ago, thanks to lower operating costs and finance expenses.
BT expects “to continue to offset the economic headwinds through improved customer service and processes, better efficiency, and investment in the future of the business,” Chief Executive Ian Livingston said.
BT announced earlier this week that it would complete the rollout of its fibre broadband network to two-thirds of UK premises by the end of 2014, one year earlier than originally planned, as part of its bid to reduce dependency on fixed-line products.
BT Vision, the company’s pay-television offering added 41,000 subs the highest for more than two years and more than Virgin or BSkyB – however this brings to total to just 600,000.
BT’s revenue was worse-than-expected, down 9.9 per cent to £4.48 billion in the second quarter from £4.98 billion a year earlier as customers make fewer landline calls.
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