BT reports an increase in sales and profits
31 January 2014 | Sophie Donoghue
UK’s BT has announced strong quarterly results driven by high demand for fibre broadband and its new sports television service.
This increased demand for fibre broadband and sport services helped the company’s consumer division grow revenues by 6%.
The company reported pre-tax profits of £617 million on revenues of £4.6 billion, and it last witnessed revenue growth in 2009.
"This is an encouraging set of results. Our strategic investments are delivering," said Gavin Patterson, CEO at BT.
BT saw a record quarter for fibre broadband demand with 1.9 million customers opting for the faster service. The UK company also reported 150,000 new broadband customers, as well as a 60% decrease in the number of consumer line losses.
BT will reportedly invest an additional £50 million into its fibre network roll-out in the UK over the next three years.
BT has moved aggressively into the sports TV sector. The company acquired the rights to show the Premier League (English soccer league) in 2012, which was followed by winning the rights to show the Champions League and Europa League for three seasons from 2015-16 in November last year.
The BT sport channels now have 2.5 million customers.