BT Group H1 Profit Broadly Flat, Revenues Down; Maintains FY View - Quick Facts
(RTTNews) - Telecom company BT Group plc (BT_A.L, BT) reported Thursday that its first-half profit before tax was 1.333 billion pounds, broadly flat with last year's 1.340 billion pounds.
Profit after tax was 1.068 billion pounds, compared to 1.052 billion pounds a year ago. Earnings per share grew 2 percent to 10.8 pence from 10.6 pence last year.
Adjusted EBITDA was 3.92 billion pounds, down 3 percent due to lower revenues, increased spectrum fees, content costs and investment to improve competitive positioning. These were partly offset by cost savings from transformation programmes.
Revenue declined 1 percent to 11.467 billion pounds from 11.588 billion pounds last year. The decline mainly reflected the impact of regulation, declines in legacy products, and strategically reducing low margin business
Further, the company announced interim dividend of 4.62 pence per share, same as last year.
Philip Jansen, Chief Executive, said, "BT delivered results in line with our expectations for the second quarter and first half of the year, and we remain on track to meet our outlook for the full year."
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