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“Build like fury” – BT boss pledge on faster internet speeds

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T boss Philip Jansen today hailed the telecom giant’s roll out of top speed internet, saying the Openreach arm “continues to build like fury”, now reaching 7.2 million premises.

Janses wants to ratchet up the speed at which so-called FTTP – ultra fast Fibre To The Premises broadband – is rolled out, from 3 million to 4 million premises a year.

That should help fulfil Boris Johnson’s pledge to get fast internet to every home in Britain, albeit a bit behind the 2025 timeline first pledged.

BT today restored its full year dividend to 7.7p a share, back to pre-Covid levels, in a move that will reassure the City.

Revenue for the full year slipped 2% to £20.8 billion, while profit was up 9% to £1.96 billion.

BT has completed the legal work behind its 50/50 joint venture with Warner Bros Discovery Arm. That should improve the content on BT Sport immediately and make the business stronger when bidding for content in the future, such as Champions League rights.

BT could sell its half to Discovery later, or not. It also signed a long-term deal with Sky on content sharing, the latest sign of how the two former deadly rivals are increasingly parters.

On the cost of living crisis, Janses admits to concern.

“We are very conscious of the environment we operate in. Inflation is very worrying,” he said.

BT prices are likely to go up by £35 this year, which compares well to a £1500 increase in energy bills, but might still cause some to opt for the cheaper, rather than the faster, internet connection.

Jansen insists BT’s internet is still great value at less than £1 a day.

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