Strong routes

2 February 2018 By Liam Proud Follow @liamwardproud

Under new chair Jan du Plessis, the former UK telephone monopoly seems more focused on network investment than costly TV forays. It is building more fibre internet lines and may declare a truce with rival Sky on soccer rights. That should please both regulators and shareholders.

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BT on Feb. 2 said revenue in the three months to the end of December was just under 6 billion pounds, down 1.5 percent from a year earlier excluding currency moves, disposals and other one-offs.

Sales at the British telecom group’s Global Services unit, which serves multinational companies, fell to less than 1.3 billion pounds. That was 9.4 percent lower than in the same period a year earlier.

The British group’s earnings before interest, taxes, depreciation and amortisation fell 2 percent year-on-year to more than 1.8 billion pounds, after adjusting for “specific items” like restructuring charges.

The company led by Gavin Patterson on Feb. 1 extended its target for building full-fibre broadband by 50 percent to reach 3 million premises by the end of 2020.

On Dec. 15 BT signed an agreement with pay-TV group Sky allowing each others’ customers to view sport they had previously screened exclusively.

BT shares were down 3 percent to 248 pence at 0815 GMT.

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