Cyber attack helps cut TalkTalk profits in half

12 May 2016
Cyber attack helps cut TalkTalk profits in half

Security breach costs telecoms and broadband provider millions

 

Following last year’s well-publicised cyber attack, telephone and broadband provider Talktalk has seen its profits halve, according to a BBC report.

The report stated that the company’s profits fell to £14m compared with £32m a year earlier. The fall is believed to be partly due to the costs of the attack, which cost the company £42m.

In October 2015 the personal data of nearly 160,000 Talktalk customers was accessed in the cyber attack, including details such as email addresses, names and phone numbers, as well as thousands of unique bank account numbers and sort codes.

Despite the breach, Talktalk’s chief executive Dido Harding told the BBC she is encouraged by how the company have 'bounced back' in the last quarter. She stressed that the company have taken the attack extremely seriously and have significantly increased its spending on security.

To read the report in full visit: http://www.bbc.co.uk/news/business-36273449

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