BT signals good profit forecasts

BT has said it expects annual profit to come in at the upper end of expectations after what it called an “encouraging” half-year.

The telecoms giant posted a 2 per cent increase in adjusted earnings for the six months to September 30 to £3.68bn, driven by high-end smartphone sales at EE, as well as cost savings. BT said it expects fullyear earnings to be in the upper half of its £7.3bn to £7.4bn range.