Telecom giant BT has reaped the profits of its focus on ushering in superfast broadband across the country, with revenue inflows reaching the figure of £4.8 billion in its third quarter.
The last quarter of 2011 saw BT grabbing over 50 per cent of UK's new broadband subscribers thus adding 146,000 subscribers to its kitty. This takes BT's tally of broadband subscribers to 6.1 million reveals The Guardian. BT mentioned that its customers can soon enjoy a 330 Mbps ultra-fast broadband service in near future and is planning to double the speeds of its standard fibre package from 40 Mbps to 80 Mbps.
Even though BT experienced a dip of 3 per cent in its transit revenues, the company stands strong to match up with the market expectations. Since the expenditure to roll out the ultrafast fibre connections is going to be borne by the service providers, BT will be able to save a substantial amount of cash outflow. This will enable the telecom group to spend the saved cash to provide fibre infrastructure installation on its own to its customers.
Mr Livingston apparently has a vision of accomplishing an aim of £6bn revenue by 2013. The shares of BT saw a 4 per cent increase thus ending at 214p following the revelations of quarterly results.