BT ups fibre broadband target to 25 million homes by end-2026 By Reuters

LONDON (Reuters) -BT said on Thursday it would extend its full-fibre broadband network to 25 million premises by the end of 2026, aiming to fund the 5 million additional homes and businesses through a joint venture with other parties.

BT, Britain’s biggest broadband and mobile provider, set the new target as it reported a 7% fall in revenue and a 6% fall in adjusted earnings for the year to end-March, reflecting the impact of COVID-19.

Chief Executive Philip Jansen said changes in regulation and tax, along with a new agreement on the company’s pension payments, had cleared the way to raise its fibre ambitions.

“After a number of years of tough work, and as we look to build back better from the pandemic, we’re now pivoting to consistent and predictable growth,” he said.