BT to invest £1bn in broadband

BT will invest £1 billion to extend roll-out of its fibre optic next generation network (NGN) to two-thirds of the UK by 2015.

The £1 billion will take BT’s investment in its fibre optic NGN to £2.5 billion, as it announced 2010 financial year results. BT achieved revenue of £20.9 billion in the financial year to March 31, 2010, down two per cent against the 2009 financial year, with EBITDA of £5.8 billion over the year, up six per cent.

For the financial year 2011, BT said it expects to achieve revenue around £20 billion, operating cost savings of £900m and net debt below £9 billion, which currently sits at £9.3 billion.

BT said BT Global Services revenue will grow by 2012/13, BT Retail is expected to show an improvement in revenue trends over the period, and BT Wholesale and Openreach revenue is expected to be broadly level over the period. "We are investing in the future of our business, enhancing our TV offering and building on opportunities in our Global Services business," said chief executive Ian Livingston. "Assuming an acceptable environment for investment, we see the potential to roll-out fibre to around two-thirds of the UK by 2015."

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