BT shares have rocketed this morning after the group reported forecasting-beating results which have left it ready to take on rival Sky with its broadcasting plans.
The telecoms giant said pre-tax profits rose 2% to £2.5bn for the year to 31 March, although revenues fell 5% to £18bn. The group also raised its core earnings outlook to between £6.2bn and £6.3bn for 2014/15, a strong growth forecast given its focus on cost-cutting in recent years. The results come a day after BT said it would offer free Premier League football to its broadband customers, in a challenge to BSkyB's dominance of the UK's sports pay-TV market. BT has won a three-year deal to show 38 Premier League games a season. The numbers pleased investors, with shares leading ...
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