BT Capex up 3% to $904 mn in Q3 2014, plans broadband

BT today said its Capex (capital investment) has increased 3 percent to £599 million or $904 million in Q3 2014.

BT CEO Gavin Patterson, while announcing the financial result today, said that the company would conduct large-scale pilots this summer of ultrafast broadband with will enable BT to deliver ultrafast speeds of up to 500Mbps to most of the UK within a decade.

“Our superfast fiber broadband network covers around three-quarters of the UK. BT has been at the forefront of fiber innovation and investment, from which all communications providers benefit,” said Patterson.

The BT CEO also said the company is making good progress on its due diligence in relation to a possible acquisition of EE, a leading 4G player in the U.K. and will make further announcements shortly. Recently, Hutchison of Hong Kong announced its deal to buy O2, a rival of BT, from Telefonica.

Gavin Patterson of BT

“Openreach achieved the highest growth in the number of landlines on record. It was also our best ever quarter for fiber broadband net additions. All the major communications providers are responding to the market demand for fiber broadband, helping to drive take-up in what is already a very competitive market,” said Patterson.

BT Q3 2014

BT said its revenue in Q3 2014 decreased 3 percent to £4,475 million, while profit before tax increased 13 percent to £814 million.

Revenue of BT in Q3 2014 from Global Services decreased 8 percent to £1,694 million, BT Business fell 2 percent to £789 million, BT Consumer increased 7 percent to £1083 million, BT Wholesale dipped 10 percent to £532 million and Openreach fell 1 percent to £1,255 million.

Baburajan K
[email protected]