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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