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October 29, 2015

Champions League saves BT’s flat Q2

News: BT sees decline outside of consumer business.

By Alexander Sword

BT saw its revenue flat for the second quarter as growth in its consumer business offset decline in other units.

The telecoms provider announced revenue for the quarter of £4.381 billion, a 0 percent increase year-on-year. The total for the half-year was £8.659.

Reported re-tax profit at the group rose 14 percent year-on-year to £642 million.

The main highlight was growth in the TV business, with 106,000 BT TV net additions, as consumers are won over by the exclusive rights to the Champion’s League and Europa League.

This meant revenue in the consumer business grew 7 percent.

However, wholesale revenue decreased 2 percent, OpenReach revenue increased 2 percent and business revenue was down 1 percent.

"The TV numbers drove BT’s Consumer division, which was once again the company’s star-performing unit, with revenue up an impressive 7% year-on-year," said Kester Mann, Principal Analyst at CCS Insight. "This largely offset declining revenue at the company’s Wholesale, Business and Global Services units.

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"Retail broadband net additions of 82,000 were the lowest in three years as BT came up against strong competition from Sky. Its close rival has been offering free ADSL and fibre for a year as part of an aggressive promotional drive.

In light of the CMA’s approval of BT’s acquisition of EE, Mann said that "the company will need to make careful decisions around positioning and branding of its mobile service.

"Uptake of BT Mobile has been steady if a little unspectacular."

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