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BT lifts profit target amid pandemic demand for fast broadband by home workers

BT was boosted by a strong expansion of “fibre to the premises” orders through its Openreach digital network business

Telecoms giant BT, which has improved its profit outlook for the current financial year as it hailed a "strong operating performance" despite the impact of the pandemic.

BT has improved its profit outlook for the current financial year as it hailed a “strong operating performance” despite the impact of the pandemic.

The telecoms giant increased the lower end of its earnings target for the year to £7.3 billion despite reporting a decline over the past six months.

BT was boosted by a strong expansion of “fibre to the premises” orders through its Openreach digital network business, reporting a “strong increase” in the second quarter.

Chief executive Philip Jansen said: “BT delivered financial results in line with expectations for the first half of the year, thanks to strong operational performance during exceptional circumstances.

“Customer demand during the pandemic has shown how critical our networks have become, and our significant network investments have helped us double the number of Openreach’s FTTP (fibre to the premises) orders compared to this time last year and have seen our leading 5G network expand to 112 towns and cities across the 海角视频.

It told investors on Thursday that adjusted earnings for the period to September 30 fell by 5% to £3.7 billion after a drop in revenue, although this was partly offset by sports rights rebates.

Revenue for the half-year tumbled by 8% to £10.6 billion, which it said was primarily caused by lower BT Sport sales and reduced business activity in its enterprise units.