BT Group Nine-Month Pretax Profit Fell as Depreciation Offset Ebitda Growth -- Update
02 Febbraio 2023 - 9:20AM
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. Adjusted Ebitda was GBP5.88
billion compared with GBP5.71 billion a year before.
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 adjusted 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.
"We continue to accelerate our investments in the UK's leading
next generation networks; we're combining our Enterprise and Global
operations to create BT Business, a single, strengthened B2B unit;
and we're going further on cutting costs to deliver GBP3 billion in
annualized savings by the end of FY25," Chief Executive Philip
Jansen said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
February 02, 2023 03:05 ET (08:05 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Grafico Azioni Bt (LSE:BT.A)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Bt (LSE:BT.A)
Storico
Da Apr 2023 a Apr 2024
