Latest news with #Openreach
Leader Live
2 days ago
- Entertainment
- Leader Live
Wrexham: CEO attends Buckingham Palace for Royal Garden Party
Caroline Tudor-James, leader of the Rainbow Foundation, attended the prestigious event with her mother, Abigail Tudor, the charity's founding centre manager. The occasion marked a milestone for the foundation, as it officially launched as Wales's Ageing Well Centre of Tudor meets Prince William (Image: Rainbow Foundation) The Rainbow Foundation supports more than 3,000 people each year, providing comprehensive support, rehabilitation, therapy, care, and a range of outreach programmes. Their work aligns with Wales' broader strategy to empower older adults and combat loneliness. The afternoon tea was a tribute to Ms Tudor-James' leadership and her dedication to championing the rights and dignity of older people across and staff at the Rainbow Foundation enjoy the photographs from the Garden Party (Image: Rainbow Foundation) Her invitation to Buckingham Palace underscored the foundation's commitment to excellence. Ms Tudor-James said: "It was a privilege to represent the Rainbow Foundation at Buckingham Palace, but the real celebration is here, with our clients. "Their resilience and community spirit inspires everything we Foundation clients enjoying afternoon tea to celebrate (Image: Rainbow Foundation) "As we step into this new chapter as Wales's Ageing Well Centre of Excellence, we reaffirm our commitment to ensuring older people live fulfilling, connected lives." The charity invites the community to join its mission of supporting older adults in leading vibrant, independent lives. Read more: 'You've done Wrexham proud': Olly Pearson celebrated after BGT success Thousands in Flintshire missing out on better broadband, warns Openreach Caroline Tudor-James shares her garden party experience with clients in Penley (Image: Rainbow Foundation) The Rainbow Foundation is a charity dedicated to transforming lives by delivering services that enhance health and wellbeing. Their mission is to help people 'rediscover their sense of worth and unlock their true potential'. For more information, visit their website at
Yahoo
3 days ago
- Business
- Yahoo
1 year ago I said I'd left it too late to buy BT shares – see how much growth I've missed!
BT (LSE: BT) shares were top of my watchlist a year ago, and I came close to buying. I thought they looked cheap, with a forward price-to-earnings (P/E) ratio of just 6.75 and a forecast yield of 7.36%. That's exactly the profile of the FTSE 100 stocks I've been buying, but I hesitated. The shares had just jumped 20%, and I convinced myself the moment had passed. It felt like the early stage of a recovery, which is typically the most lucrative part, and I didn't want to chase it. I noted the long-term underperformance, the costly pension liabilities and BT's £20bn debt pile. UBS had even warned that the dividend could be cut in half. So I stepped back, again. Shortly after, full-year 2023 results landed. I expected a sell-off after a 31% fall in profits, but the market had other ideas. The shares climbed another 10% in a day. Chief executive Allison Kirkby hiked the dividend 3.9% and talked up plans to double free cash flow to £3bn by 2030. Annoyed at missing that jump, I moved on. That turned out to be the wrong call. A quick glance at the BT share price one year on hurts like hell. It's up almmost 40%, comfortably beating the FTSE 100, which climbed a modest 6.2% over the same period. The trailing yield is 4.55%, well above the index average of 3.6%. Results for the year to 31 March 2024 were mixed. Revenues dipped 2% to £20.4bn, held back by weaker international and handset sales, although Openreach and broadband price rises helped. Adjusted EBITDA rose 1% to £8.2bn, while pre-tax profit increased 12% to £1.3bn, thanks to fewer one-off costs. Normalised free cash flow beat forecasts at £1.6bn, and the dividend was increased again, this time by 2% to 8.16p per share. Net debt is down to £15.2bn. There's momentum here, and the company is now just a year away from hitting its £2bn free cash flow goal for 2027. But telecoms is a tough business. Investment costs are sky-high and competition intense. BT still carries major risks – it's still got those hefty pension commitments. Its Openreach network bleeds customers amid stiff competition from smaller, nimbler 'alt-net' rivals, with a thumping annual decline of 828,000. That's expected to continue. BT also faces tougher competition in the mobile market as Vodafone and Three line up a £15bn mega-merger. After a strong run for its shares, broker forecasts suggest slower growth ahead. The median 12-month price target sits just under 197p, around 10% above today's 179p. Add in the yield, and that could deliver a total return of 15%. Yet analyst sentiment is split. Seven rate the stock a Buy, but four say Hold and four say Sell. BT shares now trade on a forward price-to-earnings ratio of 9.25. Not quite the screaming bargain they were, but still decent value. A year ago, I said I'd left it too late. That was a bad call. Now I feel that I've really missed out and won't be buying. Instead, I'll start looking for the next FTSE 100 recovery play. Let's hope I'm not kicking myself this time next year, too. The post 1 year ago I said I'd left it too late to buy BT shares – see how much growth I've missed! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
3 days ago
- Business
- Telegraph
TalkTalk in row with Sky over fees as it battles customer exodus
TalkTalk is withholding millions of pounds from Sky as the struggling broadband provider battles an exodus of customers. The Telegraph has learnt that TalkTalk has been locked in a contractual dispute with Sky for a number of months over fees owed to the media giant. The dispute is understood to relate to Sky 's streaming service Now, which TalkTalk previously offered to its television customers as part of a bundled package with a single bill. The broadband company began phasing out this offering at the end of the last year. Sources close to TalkTalk insisted the dispute over volumes reflected changing viewing habits. The company also recently scrapped the option of including Netflix in its television packages. But it comes amid concerns about TalkTalk's finances as the broadband company grapples with large numbers of customers leaving. A source at one supplier said there was 'significant concern' about the company's ability to pay its bills. TalkTalk, which was founded by Sir Charles Dunstone, said it did not recognise this description of its finances. Suppliers squeezed TalkTalk's biggest supplier is Openreach, BT's network arm, which provides the underlying broadband connection for most of its customers. It is understood to be closely monitoring TalkTalk and its monthly payments. Suppliers to TalkTalk have previously been squeezed as the company struggled to shore up its finances. In 2023, the company extended its credit terms with some suppliers to as much as 300 days, while it has also made use of supply chain financing, which allows suppliers to obtain earlier payments via the company's bank. Companies that have faced late payments include The&Partnership, the advertising agency founded by Johnny Hornby, who also co-founded the Hawkstone beer brand with Jeremy Clarkson. Hornby is a personal friend of Sir Charles. While supplier terms are understood to have returned to normal, TalkTalk is facing fresh pressure on its top line. The company shed more than 400,000 customers in the year to February, taking its total to 3.2m. Customer losses follow heavy cost-cutting at the company, which has reduced marketing and customer acquisition costs by £50m. TalkTalk, which has traditionally been known as a discount broadband provider, is also facing tougher competition from a wave of challenger 'alt-net' firms that offer full-fibre services at cut-price rates. The shrinking customer base led to a 7pc fall in revenues to £1.4bn in 2024. This figure is forecast to drop further in the coming year. Meanwhile, TalkTalk slashed about 350 jobs last year, with further cuts expected in the coming year as the company prepares to roll out new customer service software from Octopus-owned Kraken. The figures underscore the continued pressure on TalkTalk's finances after it was rescued from collapse through an 11th-hour bailout. Sir Charles, TalkTalk's executive chairman, and other shareholders were forced to pump £235m into the company to stave off a looming debt default. The deal, which has given investment firm Ares significant control over TalkTalk, secured extensions to maturity deadlines covering about £1.2bn of debt. Looking for a buyer TalkTalk burnt through £285m last year, more than offsetting its emergency cash injection as it scrambled to pay back suppliers. The company is also still facing eye-watering debt costs. The company is now looking for a buyer for all or part of the business after breaking itself up into three divisions in 2023. It was previously in talks with Australian investment firm Macquarie about the sale of a stake in its wholesale unit for up to £500m, but a deal never materialised. Analysts have warned that the darkening financial outlook has made the prospect of dealmaking less likely. TalkTalk has said it plans to relaunch its offering to customers and will make further cost cuts as it shifts its customer base away from ageing copper networks to full fibre.
24-05-2025
- Business
Gigabit-capable broadband coverage continues to rise in Pembrokeshire
THE ROLLOUT of gigabit-capable broadband in Pembrokeshire is progressing at an impressive pace, supported by the Swansea Bay City Deal's Digital Infrastructure Programme. Recent data highlights significant year-on-year growth in broadband coverage, reflecting the success of this initiative and its role in enhancing digital connectivity across the region. Coverage in the county has grown substantially. At the end of March 2021, only 7.6% of Pembrokeshire residents and businesses had access to gigabit-capable broadband. By the end of March 2024, this figure had reached 48.2%, and as of March 2025, it has risen again to 65.1%, demonstrating the program's momentum (Source: ThinkBroadband). The rollout has been bolstered by successful projects funded through the UK government's Gigabit Broadband Voucher Scheme, ensuring that residents and businesses in more remote areas can access high-speed internet. Key to the success of the rollout in Pembrokeshire has been the collaboration of two Digital Champions, who have worked closely with Pembrokeshire County Council (PCC). These partnerships have been instrumental in scheduling civil engineering works around the county's bustling tourist economy and existing infrastructure projects, reducing disruption to residents and businesses. Additionally, a wide range of suppliers are actively contributing to the project. Companies like Openreach, Ogi, Voneus, and the local business Dragon WiFi have all played vital roles in expanding broadband access across the county. To further boost coverage, Openreach is delivering a £289 million contract as part of the UK government's Project Gigabit. This initiative will connect around 131,000 homes and businesses in some of the most remote areas of South Wales to reliable, high-speed broadband. The benefits of this expanded connectivity are significant, from better access to online services and improved opportunities for remote work and education, to supporting Pembrokeshire's growing local economy. Cllr Paul Miller commented, 'The progress we're seeing is a result of strong teamwork between the council, our partners, and the local community. We are committed to ensuring that everyone in Pembrokeshire benefits from fast, reliable internet access.' Cllr Rob Stewart, Leader of Swansea Council and Chair of the Swansea Bay City Deal Joint Committee, said: 'Year-on-year increases in gigabit-capable broadband coverage in Pembrokeshire are a tremendous achievement. This collaboration plays a crucial role in boosting the local economy, opening up opportunities, and ensuring that everyone, whether they live, work, or visit here, can benefit from better connectivity.'
Business News Wales
23-05-2025
- Business
- Business News Wales
Contract Awarded for Swansea Bay City Deal's £10m Better Broadband Infill Project
Swansea Bay City Deal's Digital Infrastructure Programme has announced that BT in partnership with Openreach has successfully been awarded the delivery contract for the Better Broadband Infill Project. The £10 million project will bring full fibre broadband to 1,533 premises and an additional 256 sites across the four counties in the Swansea Bay City Region – Pembrokeshire, Swansea, Neath Port Talbot and Carmarthenshire. This project specifically targets premises that currently have broadband speeds of less than 30Mbps and who are not in scope for any existing government interventions such as Project Gigabit or part of commercial build plans. The homes and businesses included are predominantly in harder to reach, rural areas where the cost to provide faster broadband services is considerably higher. Cllr. Rob Stewart, Leader of Swansea Council and Chair of the Swansea Bay City Deal Joint Committee, said: 'This project is a game-changer for our region. By bringing high-speed internet to areas that have been left behind, we are not only improving quality of life but also opening up new opportunities for economic and social development. Access to reliable broadband is no longer a luxury; it's a necessity. This project will ensure that everyone in the Swansea Bay region can participate fully in the digital age.' Susi Marston, Head of Public Sector Wales at BT, said: 'Connectivity is at the heart of how people live and work today but all of that relies on the right infrastructure being in place. 'The Better Broadband Infill Project will improve services for thousands of people across the Swansea Bay City Region who will benefit from state-of-the-art connectivity even in hard-to-reach areas.'The Better Broadband Infill Project is set to start this month and will continue its delivery across the region over six phases, with the first 220 premises connected by December this year and a completion date of March 31st 2027.'
