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BT revenues lifted by strong broadband results

BT revenues are up 5 percent for the third quarter, helped by the addition of 697,000 net broadband connections.

BT Retail’s share of net broadband connections for the third quarter is 34 percent.  Overall, BT now has over 10 million wholesale broadband connections.  Although revenue from its traditional businesses is declining, its new wave business, particularly broadband, is currently making up for it with revenues up 39% to £520m.

Ben Verwaayen, Chief Executive on the results, said:
“This is another strong set of results; our strategy is delivering and the positive trends are gathering momentum. The revenue growth of 5 per cent reflects continued strong growth in new wave services and a robust defence of our traditional business, underpinned by growth in active consumer customers for the first time in four years.”

The growth in wholesale broadband connections is likely to continue, and could be helped further now that there are 1.5 million unbundled broadband lines.  Under the terms of the Telecommunications Strategic Review it was not allowed to lower the prices of its wholesale broadband offerings until the UK had 1.5 million LLU lines.  This was to allow its some of its rivals to compete by installing its own broadband equipment in telephone exchanges and bypassing BT Wholesale.

BT had announced a few months back that it would lower wholesale prices for resellers in May 2007 when it expected to hit this target.  However, no official announcement has been made since on the price cuts and whether it would be bought forward since reaching the 1.5 million LLU lines target early.