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BT Q2 2014/15 results: Competition bites, but BT is resilient - Venture Insights

Report Overview

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BT Q2 2014/15 results: Competition bites, but BT is resilient

PublisherEnders Analysis.
Publish Date November 4, 2014
Sector Fixed Line (Internet and Voice), Sports.
Company BT, BT Sports.

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BT faced a more intense battle in the broadband market in the September quarter, and lost some net adds share, but retained its #1 spot and is still growing well.

Revenue growth fell at both the group and consumer level, but this was largely due to the BT Sport direct revenue benefit annualising out, with growth excluding this actually improving a touch.

The flip side of this is that the negative cost impact is also annualising out, and cost reduction in the quarter looks weak in this context, but this is likely due more to discretionary spend on new products than a lack of costs to cut.