BT unveiled a further rise in broadband and television customers as the telecoms giant stared down a competitive march from its rivals.
The group, led by Glasgow-born Ian Livingston, added 81,000 retail broadband customers in the quarter to September 30, nearly half of net additions across the whole market, while its television service BT Vision increased its base by 21,000 to more than 750,000 subscribers.
Elsewhere, BT cut its revenue outlook for the full year as problems in the eurozone and the financial sector hit its business-focused Global Services division. There was a 9% drop in headline revenue to £4.5 billion, missing City forecasts of £4.6bn.
However, far-reaching cost cutting helped the group deliver a 7% rise in pre-tax profits to £608 million, which beat analysts' expectations.
BT Retail – the consumer-facing division – saw revenues drop 3% to £1.8bn in the quarter, while its operating profits rose 10% to £376m. The division added 160,000 customers to its superfast fibre-broadband service, with the total base now more than 850,000 or 14% of its total broadband customers.
The increase in BT Vision customers in the third quarter came as the company agreed broadcast rights for Premier League football and Premiership rugby. BT Sport will launch next summer.
BT also announced a further speeding-up of its commercial fibre broadband roll-out, which will see it pass two-thirds of UK premises in spring 2014.
The Global Services division saw revenues drop 13% to £1.8bn, while its operating loss narrowed to £23m in the quarter from £31m last year. However, the division did sign new contracts, including with British American Tobacco and the European Commission.
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