BT confirms fall in profits

<p>Profits are down for BT.</p>

BT has confirmed a drop in its profits, but has hailed growth in its BT Sport offering.

The company is going head-to-head with broadcaster Sky and this year purchased the rights to Premier League football matches.

But this was unable to stop the firm from announcing six-month pre-tax profits of £948 million, which is a 13 per cent drop on last year's results.

New chief executive Gavin Patterson said BT Sport – which shows Premier League football early on a Saturday afternoon and has other top level sports including rugby union – has got off to a "confident" start since it was launched in August.

Broadcasters such as Clare Balding and Jake Humphreys are hosting programmes on the BT Sport channels, while former footballers such as Michael Owen also take part in its coverage.

The share price of BT has fallen slightly in early trading this morning, with stocks in the firm down 0.41 per cent on the start of the day at 08:35 GMT.

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