BT scores with TV offering

Underlying sales climbed 5 per cent in BT's consumer business as it continued to bolster its 'quad-play' bundles of TV, broadband and both fixed-line and mobile telephony. Indeed, the addition of live Champions League football coverage and an exclusive deal to carry a new channel from AMC - the home of hit dramas Mad Men and Breaking Bad - helped the division attract 166,000 TV customers to reach a total customer base of 1.3m. It also drew around 167,000 broadband customers, and signed up more than 200,000 customers to its mobile service, which launched in March.

But tepid trading in North America and Latin America and less public sector work in the UK depressed sales and profits at BT's global services division. That's despite a five-year deal with Walgreens Boots Alliance to upgrade and expand the pharmacy group's computing networks in around 20 countries worldwide.

BT's business division, meanwhile, continued to suffer as companies ditched landlines in favour of voice-over-internet services. Yet this was largely offset by strong growth in fibre broadband customers. The division also signed a major deal with Sky Ireland and extended a contract with Avis Budget to provide high-speed internet, voice services and network upgrades.

Finally, robust demand for high-speed fibre broadband buoyed the Openreach business. Operating profits leapt a tenth to £622m here even as regulatory price changes depressed revenues by £70m.

BT's management expects underlying sales growth to drive a modest increase in adjusted cash profits this financial year. S&P Capital IQ gives a consensus forecast EPS of 32p for the next 12 months.