BT customers leaving en masse

Discussion in 'Broadband' started by scuffler, May 20, 2004.

  1. scuffler

    scuffler Guest

    BT confirms customer exodus
    By Tim Richardson
    Published Thursday 20th May 2004 10:31 GMT

    BT is losing between 50,000 and 100,000 residential customers a month,
    the UK's dominant fixed-line telco finally confirmed today. This loss
    of customers even takes into account all those punters who return to
    the company each month - something BT is keen to brag about in its

    This erosion in BT's core customer base, as well as increased
    competition and regulatory pressure, is being blamed for a five per
    cent decline in BT's traditional voice-related turnover for the year.
    But while BT's traditional business continues to suffer, the company's
    "new wave" technologies - ICT, broadband, mobility and managed
    services - are helping to fill the void.

    New wave turnover was up 30 per cent on the year to £3.39bn and now
    accounts for 18 per cent of the group's turnover for the year compared
    to 14 per cent last year. Publishing its prelims for the year, the
    UK's dominant fixed line telco reported that total turnover dipped one
    per cent £18.5bn. Pre-tax profit increased swelled 10 per cent to £2bn
    as the company benefited from improved operating results of the group
    and lower net interest costs.

    By 14 May, BT had 2.45m wholesale broadband lines, an increase of 162
    per cent on the number of connections 12 months ago, with around
    35,000 new DSL connection being added each week. The ever-increasing
    number of broadband users in the UK helped broadband revenues climb by
    107 per cent on the year to £491m.

    Said BT chief exec, Ben Verwaayen: "The results from our new wave
    businesses show our strategy is working. Our transformation of the
    business will continue to accelerate. We expect the environment to
    remain challenging but we will also increase our investment to build
    on the significant progress already achieved. Our actions and future
    plans give us confidence in our strategy for the future."

    By mid morning shares in BT were up 5.25p (3 per cent) at 178.75p, ®
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    scuffler, May 20, 2004
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  2. scuffler

    Informer Guest

    It wasn't that long ago that BT shares were trading at £13 each
    Informer, May 20, 2004
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  3. scuffler

    Steve Guest

    Define "long ago"...

    I think you'll find it was probably more than 3 years in this
    instance. A lot of water has gone under the bridge since then.
    Steve, May 20, 2004
  4. scuffler

    GwG Guest

    Mostly tears ;-)
    GwG, May 20, 2004
  5. I saw the interview on BBC24 - they admitted they were losing Telephone
    customers, but said they were getting 5000 new customers signing up for
    Internet services (mainly DSL) per day.
, May 21, 2004
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