Ofcom fine: £42m record fine is 1% of BT's profit

BT has been hit with a record fine from telecoms regulator Ofcom and has set aside £300m to repay providers for delays in installing high-speed lines.

Ofcom has issued the firm with a £42m fine, which it said was the largest it has ever handed down.

However the record high fine is roughly 1% of BT's profit. Gaucho Rasmussen, director of enforcement and investigations at Ofcom, told the Today programme that the fine "appropriately reflects the severity of BT's breach".