TalkTalk upbeat despite downgrade

TalkTalk warned full-year earnings would be at the lower end of expectations as it absorbed Tesco’s loss-making blinkbox operation and said its programme of cost savings was on course to miss its target.

The group, which offers a “value-for-money” proposition for services such as broadband, TV, home telephone and mobile, made the warning as it published results for the third quarter to the end of December.