PHOTO
FILE PHOTO: British Telecom (BT)'s headquarters is seen in central London, Britain May 10, 2018. REUTERS/Hannah McKay/File Photo
LONDON - BT, Britain's biggest mobile and broadband operator, said it added a record 472,000 connections to its growing fibre network in its third quarter, underpinning its confidence that it will meet its full-year profit forecast.
The company on Thursday reported adjusted core earnings of 2.1 billion pounds ($2.61 billion) for the three months to end-Dec, up 4% year-on-year, on revenue of 5.2 billion pounds.
Chief Executive Allison Kirkby said cost cuts had more than offset lower international revenue in its business unit and weak handset sales.
"Openreach again performed strongly with the highest ever full fibre build, passing more than 1 million premises for the fourth consecutive quarter, and connecting a new record of nearly half a million customers," she said.
BT's full-fibre network, operated by its Openreach unit, now reached 17 million premises, it said, and it was on track to meet its target of 25 million by the end of 2026.
BT in November downgraded its forecast for adjusted revenue from flat to a drop of 1-2% for the full year, but its kept its forecast for adjusted core earnings to come in around 8.2 billion pounds and free cash flow at 1.5 billion pounds.
($1 = 0.8042 pounds)
(Reporting by Paul Sandle; editing by Sarah Young)