Thursday, April 25, 2019

Football fans sign up as BT announces Q1 results


More than half a million customers have signed up to BT Sport as the telecommunications company announced strong first quarterly results.

Adjusted profit before tax was up five per cent to £595m and was comfortably ahead of forecasts due to its strong retail performance.

Chief Executive Ian Livingston, who is joining the Government as Minister for Trade and Investment after five years at BT, said he was very pleased with the ‘strong start‘ for BT Sport. He added: “I am immensely proud to have led BT over the last five years. The foundations are in place for an exciting future and I‘m confident that the company will make even more progress.”

The sports channel will go head to head with Sky in August and aims to boost its revenues in the competitive sports market. It has secured the rights to 38 Premier League matches in the coming season, compared with Sky‘s 116.

BT‘s consumer line loss was at its lowest level in five years and took a 50 per cent share of the broadband market net additions. Its SME business grew revenues by one per cent, the best performance in more than four years, and its BT Global Services order intake was up almost 50 per cent.

Livingston will be succeeded by the head of retail Gavin Patterson.