Higher spectrum fees and content costs were blamed by BT for a wobbly bottom line at the half-way stage of its financial year.
Profits before tax for the six months ended 29 September were broadly flat at £1.33bn, compared with the same period last year. Earnings before interest, tax, depreciation and amortisation, meanwhile, fell 3 per cent to £3.9bn.
BT said this was due to "increased spectrum fees, content costs and investment to improve competitive positioning partly offset by cost savings from transformation programmes."
Revenue came in at £11.413bn, down 2 per cent, "mainly reflecting the impact of
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