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		</div><p>Shares in TalkTalk have plummeted after the broadband provider slashed investor payouts and warned over earnings as it embarks on an investment drive to attract more customers. The group&#8217;s stock sunk by as much as 17% after it cut this year&#8217;s final dividend from 10.58p to 5p and flagged that full-year earnings in 2017-18 would come in lower, as it spends more money on marketing.</p>
<p>The FTSE 250 firm said next year&#8217;s earnings would hit between £270 million and £300 million, while annual earnings for this year fell short of expectations despite growing by 17% to £304 million. It came as the company&#8217;s new bosses saw annual pre-tax profits jump to £70 million, up from £14 million last year, after suffering a hefty financial blow linked to a cyber attack two years ago.</p>
<p>Its customer base also returned to growth, expanding by 22,000 in the fourth quarter, while churn &#8211; the number of customers leaving the provider &#8211; dropped to 1.4% from 1.64% over the period. Executive chairman Sir Charles Dunstone said his focus for the company was &#8220;growth, cash generation and profit &#8211; in that order&#8221;. He said: &#8220;We will be smart about how we invest, focusing on our fixed network, avoiding other capital intensive distractions.</p>
<p>&#8220;In light of these new priorities, we have also decided to reset the dividend as we look to deliver growth and strong sustainable shareholder returns over the long term.&#8221; Total revenue slipped 3% to £1.8 billion in the 12 months to the end of March this year, but the group said more than one million customers had signed up to new plans.</p>
<p>The results come as Tristia Harrison replaces Dido Harding as chief executive in a shake-up that has seen Sir Charles step up from chairman to executive chairman. Ms Harrison said: &#8220;The last 12 months have seen the business lay down solid foundations from which to drive sustainable base and revenue growth in both our retail and B2B businesses.&#8221;</p>
<p>Under Ms Harding&#8217;s watch, TalkTalk was stung by a cyber attack in 2015, which saw the personal data of nearly 160,000 people accessed by hackers. The debacle was branded a &#8221;car crash&#8221; by the then information commissioner Christopher Graham, who said it should send a warning shot to the industry.<br />
The attack led to tens of thousands of customers deserting the firm and cost it £60 million.</p>
<p>Its customer base also returned to growth, expanding by 22,000 in the fourth quarter, while churn &#8211; the number of customers leaving the provider &#8211; dropped to 1.4% from 1.64% over the period. Executive chairman Sir Charles Dunstone said his focus for the company was &#8220;growth, cash generation and profit &#8211; in that order&#8221;. He said: &#8220;We will be smart about how we invest, focusing on our fixed network, avoiding other capital intensive distractions.</p>
<p>&#8220;In light of these new priorities, we have also decided to reset the dividend as we look to deliver growth and strong sustainable shareholder returns over the long term.&#8221; Total revenue slipped 3% to £1.8 billion in the 12 months to the end of March this year, but the group said more than one million customers had signed up to new plans.</p>
<p>The results come as Tristia Harrison replaces Dido Harding as chief executive in a shake-up that has seen Sir Charles step up from chairman to executive chairman. Ms Harrison said: &#8220;The last 12 months have seen the business lay down solid foundations from which to drive sustainable base and revenue growth in both our retail and B2B businesses.&#8221;</p>
<p>Under Ms Harding&#8217;s watch, TalkTalk was stung by a cyber attack in 2015, which saw the personal data of nearly 160,000 people accessed by hackers. The debacle was branded a &#8221;car crash&#8221; by the then information commissioner Christopher Graham, who said it should send a warning shot to the industry.<br />
The attack led to tens of thousands of customers deserting the firm and cost it £60 million.</p>
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