BT Group PLC (LSE:BT.A)’s fibre-to-the-premises (FTTP) rollout progressed at record pace in the last quarter, with over one million premises connected, achieving an average build rate of 78,000 per week.
It puts BT’s high-speed, full-fibre internet footprint at 15 million premises as it progresses toward its goal of 25 million by 2026.
BT hit the halfway milestone of 12.5 million households in December 2023.
However, net revenues failed to keep pace with this record rollout as the total broadband customer base declined by 0.3% in the quarter.
Adjusted revenue came to £5.1 billion, a decrease of 2% compared to the same period last year.
BT attributed this decline to a reduction in legacy managed contracts and a contraction within its business portfolio unit.
The reported profit before tax also fell by 3% to £520 million, primarily due to decreased revenue, which was only partially balanced by reduced operating costs.
"We've made a solid start to the year, with excellent growth in both fibre build and connections, and increased efficiency," said chief executive Allison Kirkby.
BT shares slipped 3.7% in opening Thursday exchanges.