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BT pledges £1bn to increase UK broadband coverage

Ian Grant

BT will spend an extra £1bn to increase broadband coverage from 40% to 66% of the nation's homes by 2015, CEO Ian Livingston, said this morning.

Announcing an annual £1bn profit against a loss of £244m for 2008, Livingston said, "Assuming an acceptable environment for investment, we see the potential to roll out fibre to around two-thirds of the UK by 2015. This will take our total fibre investment to £2.5bn, which will be managed within our current levels of capital expenditure."

Livingston said BT would enhance its pay TV service, and was pursuing new opportunities in its Global Services division, the division that cost the company £1.2bn two years ago.

BT Results          
Year to 31 March 2010          
  External revenue Internal revenue Group revenue EBITDA Group profit
  £m £m £m £m £m
BT Global Services 8513 8513 457 -358
BT Retail 7924 373 8297 1885 1426
BT Wholesale 3223 1227 4450 1284 604
Openreach 1211 3953 5164 2016 1160
Other -40 40 139 -90
Intra-group items   -5553 -5553    
Total 20911   20911 5781 2742

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