BT Group Nine-Month Pretax Profit Fell Depreciation Offset Ebitda Growth
02 Febbraio 2023 - 08:49AM
Dow Jones News
By Kyle Morris
BT Group PLC said Thursday that nine-month pretax profit fell
due to increased depreciation that offset earnings before interest,
taxes, depreciation and amortization growth.
The U.K. telecommunications company said revenue for the period
to Dec. 31 was 15.59 billion pounds ($19.29 billion) compared with
GBP15.68 billion a year earlier as the BT Sport disposal offset
service revenue growth.
Pretax profit for the nine months was GBP1.31 billion compared
with GBP1.54 billion a year prior.
BT backed its financial guidance for the year. According to
company-provided consensus, the company is expected to make revenue
of GBP20.53 billion and Ebitda of GBP7.91 billion for fiscal
2023.
It also said it will undertake the merger of Enterprise and
Global to create BT Business, to enhance value for B2B customers
and help deliver synergies as part of its GBP3 billion cost-saving
target.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
February 02, 2023 02:34 ET (07:34 GMT)
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