BT rings in better than expected quarterly profits
TELECOMS giant BT posted better-than-expected quarterly profits today with the number of broadband customers surging as they took up superfast connections.
The UK group added 166,000 new gross retail broadband customers in the three months to September 30, a 46pc jump on a year ago, taking its total number to six million.
BT signed 88,000 out of these new users to its Infinity superfast service, which the telecoms giant said had now doubled its number of users to 300,000 in the past six months.
The company said its revenues per user in retail rose by £5 to £335, reflecting the growth in broadband, which helped offset a decline in revenues on its traditional landline telephone business.
BT said group adjusted pre-tax profits increased by 15% to £570m, compared to market forecasts of about £550 m.