Talk Talk saw its profits for the year fall by more than a half as a result of a cyber attack in October.

Profits in the financial year fell from £32 million to £14m, with the telecoms firm revealing that the cyber attack cost the company around £42m. Revenues grew by 2.4% to £1.83 billion.

In November, TalkTalk said it estimated the cost of the hack to be around £35m. Around 150,000 customers' data was affected by the attack, which was smaller than the company first feared.

Speaking to the BBC, TalkTalk chief executive Dido Harding, said: "We have significantly increased our spending on security. We take this extremely seriously."

"I am actually very encouraged by the way the business has bounced back so strongly in the last quarter.

"The customer base has really stabilised and this is testimony to the fact that our customers really appreciated our open and honest approach and how we tried to look after them through the cyber attack."