8 February 2008
BT continues to be the UK's biggest broadband provider, its end-of-year figures show.
According to the telecoms firm, it retained 4.25 million broadband customers at the end of 2007 - although wholesale business suffered an 11% year-on-year fall for the quarter.
Pre-tax profits also fell by 30% to £447 million - due in part to the £76 million BT spent on restructuring its business.
The strong performance of the provider's broadband division - it connected just over one-third of new broadband lines over the period - will have provided a degree of reassurance.
Nevertheless, overall broadband revenues dropped by £51 million for the quarter - testifying to an increasingly competitive market.
Chief Executive Ben Verwaayen commented: "We remain the UK's number one retail broadband provider…this has been another solid performance."
Nevertheless, the profits declaration missed analysts' expectations - and BT shares took a tumble on the market yesterday as a consequence, the Telegraph reports.
© 2008 Adfero Ltd
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