Communications giant BT has recently released its full year profits, and has also pledged to invest a further one billion pounds for the further extension of super-fast broadband.

Communications giant BT had previously announced that it was planning to roll out super-fast broadband to around forty percent of homes in the UK by 2012, and that the cost of this project to the company would be one and a half billion pounds. However, recently BT extended its plans stating that super-fast broadband would be rolled out to sixty six percent of homes by 2015.

In order to fund the rollout of super-fast broadband to two thirds of homes in the UK BT has pledged to invest a further one billion pounds, which will bring the total up to two and a half billion pounds. Whilst four million homes should have access to the super-fast broadband by the end of this year this is a number that should be substantially increased within the next five years.

Ian Livingston, the Chief Executive of BT, announced the plans this week as he provided details on the company’s full year profits, which came in at one billion pounds for the year to March 31st. He took the opportunity to outline the plans of the company over the coming three years after announcing the results.

The investment of two and a half billion pounds is said to be amongst the largest in the world that does not need funding from the public sector. The profits of one billion pounds for the year to 31st March was a far cry from the 2008/2009 period where the company suffered losses of two hundred and forty four million pounds.

Source – Google

Tags: BT Broadband, Extra One Billion Investment, Super Fast Broadband Extension