BT invests $1 bn as Capex in June quarter

BT today said its Capex (capital spending) increased 28 percent to £658 million or $1,025 million in the first quarter ended June 30, 2015.

The growth in telecom infrastructure investment was primarily fuelled by investment in ultrafast broadband network using, said BT in a statement on Thursday. Superfast fiber broadband of BT is available to more than 23 million premises, around 80 percent of the UK.

BT said there is 20 percent superfast fiber broadband take-up with new base-case assumption of reaching 28 percent penetration.

BT CEO Gavin Patterson said: “We continue to invest in our superfast fiber broadband network. It now reaches around 80 percent of all UK premises and we will work with government to help take fiber broadband to 95 percent of the country by 2017.”
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BT added more than 100,000 consumer mobile customers in the first three months. BT will be completing its acquisition of EE to create a digital service provider in the U.K.

BT has invested in improving customer service and Openreach is running ahead of all 60 minimum service levels set by Ofcom for this year.

BT revenue for Q1 FY 2016 fell 2 percent to £4,278 million or $6,664 million, while profit before tax increased 16 percent to £632 million.

Out of the total revenue, BT Global Services generated £1,543 million (-6 percent), BT Business £749 million (-2 percent), BT Consumer £1,074 million (+3 percent), BT Wholesale £530 million (+1 percent) and Openreach £1249 million revenue.

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