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BT slips in third quarter revenues

2nd Feb 18 10:08 am

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A day after it announced plan to take ultrafast full-fibre broadband to 3m homes and businesses, British telecom giant BT recorded a dip in third quarter revenues and earnings.

The group saw adjusted earnings drop 2 per cent to £1.8bn in its third quarter to 31 December, while sales fell 3 per cent to £5.97bn. Pretax profit for the quarter was £660m on revenue of £5.97bn, down 3 percent on a year earlier.

Chief Executive Gavin Patterson said today: “Our third quarter financial results are broadly in line with our expectations and we remain confident in our outlook for the full year.

“We continue to improve our customer experience metrics across the group, with our sixth successive quarter of improved customer perception.

“We continue to work closely with the UK Government, Ofcom and our customers to expand the deployment of fibre and Openreach recently announced plans to accelerate our FTTP deployment to three million premises by the end of 2020,” he added.

While the company maintained its outlook for the full year, the shares fell 3.6 per cent in early trading.

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