Nov 2, 2017

BT profits dented by sports rights investment

Profits at BT dipped in the second quarter partly due to higher payments for sports rights and a slowdown in its global corporate services division. The company said other factors holding back profits included investment in customer service, and higher pension costs and business rates. BT said operating costs in its consumer business had risen by 2%, due to investment in new UK customer service roles and additional sports rights costs from the Premier League, Box Nation and the Ashes. Investment in customer services has led to an improvement in waiting times, with calls now answered almost four minutes faster than last year, on average after 74 seconds. BT, which bought mobile operator EE last year, said it added 279,000 mobile subscribers in the past quarter taking the total number of its contract customers to 17.3 million.

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