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 in the coming year, CEO Ian Livingston, said this morning.
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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