Russ Mould, investment director at AJ Bell, said: “It may be losing broadband customers to rivals in a competitive market, but BT still managed to dial up some enthusiasm among investors with evidence it is ploughing ahead with its turnaround plan.
“A further 5,000 jobs have gone as the company looks to streamline operations under CEO Allison Kirkby.
“Despite the relatively indifferent first-half performance, BT is sticking with full-year guidance and, more significantly, its medium-term cash flow targets.
“The response to the numbers shows that if investors can see a clear path to improvement, they will allow for some speed bumps along the way.
“There is no mention of reports that the company might be entering the low-cost mobile market, where it has been left behind by operators like Lebara and Lyca Mobile.”
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