Thursday, 8 February 2018

Shares in TalkTalk closed down by nearly 10% after profit warning

Shares in TalkTalk have closed down by nearly 10% after the firm warned that profits would be significantly lower this year than previously thought.

TalkTalk also slashed its dividend and announced plans to raise £200m by selling shares on the stock exchange.

The firm is raising money to invest in a network of fibre cables that would allow much higher broadband speeds.

However, this year the telecoms group said expects a key measure of profits to be between £230m and £245m.

That is much lower than its forecast made in November, when it expected the same profit measure to be between £270m and £300m.

BBC      News.

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