LONDON _ British telecommunications company BT Group PLC posted a 1 percent fall in quarterly net profit Thursday and missed financial targets, as competition in the broadband market took its toll. The company's stock slid more than 6 percent on the news.
BT's net profit for the three months to Dec. 31 dropped to 461 million pounds (US$906 million, euro614 million) from 465 million pounds a year earlier, due to restructuring costs, while revenue fell short of analysts' expectations, barely growing to 5.15 billion pounds (US$10.04 billion, euro6.86 billion) from 5.13 billion pounds.
Rivals such as Carphone Warehouse and British Sky Broadcasting Plc rolling …
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