Talk Talk falls on disappointing H1 news

The share price of FTSE 250 telecoms firm Talk Talk (LON:TALK) dropped by 3.31% to 105p (as of 12:00 GMT) after it published results for the six months ended 30th September. Statutory revenues dropped by 3.6% as carrier income fell and the company closed its MVNO operations after reassessing its mobile strategy.

CEO Tristia Harrison commented: “We’re pleased that our clear strategy to accelerate customer growth in Fibre broadband while also reducing costs has led to a significant increase in profitability in the first half, with a 14% year-on-year increase in like-for-like 4 EBITDA. We now have over two million customers taking a Fibre product, adding nearly 300,000 customers in the half.

“Fibre broadband is good news for customers and TalkTalk. It offers a faster, more reliable service whilst also reducing churn and comes with a materially lower cost to serve. In addition, our soon to be completed HQ move and shift to a self-service model is underpinning our cost reductions.

“Our Headline EBITDA outlook for the year remains unchanged“.