BT posts “encouraging” results for Q3

BT has announced its results for the third quarter, with profit before tax up 8% and earnings per share up 12%.

The final quarter of 2013 saw BT contribute 60% of net additions to the UK broadband market, while reaching record numbers for fibre take-up – now accessed by over 18 million premises.

Also in the quarter, BT Sport’s customer base passed 2.5 million, helping to support 6% revenue growth in the company’s consumer business. BT expects the acquisition of the exclusive rights to the UEFA Champions League and UEFA Europa League to further strengthen the company’s proposition.

While underlying revenue was up just 2.4%, this is an improvement on the previous year where BT reported a -3.2% decline.

BT’s chief executive, Gavin Patterson, said that the latest set of results are encouraging and that strategic investments are delivering.

“The momentum on our cost transformation has enabled us to raise out EBITDA [earnings before interest, taxes, depreciation and amortisation] outlook for the year,” Patterson said.

“It is important that we keep up the progress we are making across the group whilst continuing to focus on improving the service we provide to our customers.”