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BT Group revenue drops 2pc YoY as telco confirms Discovery talks

Paul Lipscombe
February 3, 2022

Profits also fell 31pc, but BT Group report strong FTTP and 5G progress

BT Group has revealed its latest earnings, as the company also confirmed its in talks with Discovery to create a new joint sports venture in the UK.

Revenue in the nine months to December 2021, revealed that revenue has dropped two per cent year-on-year to £15.7bn.

This was mainly down to declines in its global and enterprise business, the telco confirmed.

In the nine months up to December 2021, profit also took a hit, with the figure down 31 per cent to £886 million.

The telco also reported record progress with its FTTP rollout, with 662,000 premises added, giving a total footprint of 6.5m now.

It’s 5G service is also available to more than 40 per cent of the UK population, with 6.4m customers using 5G services.

BT chief executive Philip Jansen commented: “BT has had a good quarter with encouraging market share performance, and we continued to make significant improvements in customer service, although revenue from our enterprise divisions was softer than we expected.”

Discovery discussions

And BT has also announced it’s locked in talks over an exclusive deal with Discovery to bolster its sports business.

The move would see BT retain its BT Sports service, but also create a new 50-50 venture that brings it together with Eurosport UK.

BT consumer CEO Marc Allera added: “The proposed joint venture with Discovery, Inc. would create an exciting new sports broadcasting entity for the UK and would act as a perfect home for our BT Sport business.”

BT is aiming to conclude talks with Discovery by the beginning of the first quarter, in order for the new company to become operational later this year.

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