BT’s latest financial results for the third quarter of 2014 reveal that reported and adjusted revenue was down 3% to £4,475m, following a flat nine months up to 31 December 2014.
According to the company statement, the decline reflects a £49m negative impact from foreign exchange movements, a £26m reduction in transit revenue and a £3m impact from disposals. However, BT Consumer saw revenue increase 7%, driven primarily by growth in broadband and TV.
BT’s fibre broadband network has almost passed the 22m mark – around three quarters of the UK – with Openreach achieving a record 375,000 fibre broadband network connections.
While the UK broadband market grew by 258,000 in the third quarter, BT’s retail share was 46%, with Openreach growing the physical line base by 111,000 – another record for the company.
The third quarter also saw BT enter into an exclusivity agreement with Deutsche Telekom and Orange, in relation to a possible acquisition of EE. BT has said that the period of exclusivity is ongoing, and that it aims to conclude negotiations on a definitive agreement.
The company’s chief executive, Gavin Patterson, said that mobility remains a “key growth area” for BT.
“We are making good progress on our due diligence in relation to a possible acquisition of EE and will make further announcements in due course,” he said. “In the meantime, our Consumer mobile launch plans remain on track.”
