BT pledges £1bn to increase UK broadband coverage

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."

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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.