BT annouces £3bn profits - days after putting customer prices up 15%

  • Video report by ITV News Consumer Editor Chris Choi

BT has announced rise in profits to £3.03 billion - days after hiking prices for customers.

The telecoms company saw revenues rise by 6% to £18.9 billion, with profits 9% higher year-on-year in the 12 months to March 31.

On April 29, BT announced price increases of up to 15%. Standard line rental for customers paying by direct debit will rise by £1 to £18.99 a month from July 3.

Meanwhile, the set-up charge for landline calls will rise from 17.07p to 19p. Call charges to UK landline and 0870 numbers will jump from 10.24p to 11p a minute.

Broadband prices are also up by £2 to £15 a month. Those on BT Infinity will see an average £2.05 rise a month.

To soften the blow, BT is announcing a pledge to repair faults faster and to offer free upgrades.

The company also said it will spend £6 billion on faster mobile mobile and broadband services across the UK over the next three years.

James Barford, a telecoms analyst at Enders Analysis, told ITV News that customers would be paying "a little bit more money for a lot more service".

However, Andrew Griffith, group chief operating officer and chief financial officer at Sky, said BT's plans were a "limited ambition".

"Despite BT's claims, it is clearer than ever that their plans for fibre-to-the-premises broadband will bypass almost every existing UK home," he added.