By Najat Kantouar
BT Group has announced a 15% increase in pretax profit for the nine months ended on December 31. This growth was driven by higher revenue, fueled by price increases and sales of fibre-enabled products in Openreach.
During the period, BT Group recorded a pretax profit of £1.50 billion ($1.90 billion), compared to £1.31 billion from the same period the previous year. Additionally, the company’s adjusted earnings before interests, taxes, depreciation, and amortization (EBITDA) came in at £6.12 billion, up from £5.88 billion.
Notably, the group’s revenue also experienced a slight increase from £15.59 billion to £15.8 billion.
BT Group has reaffirmed its financial guidance for the year.
Looking ahead, analysts predict that the company’s revenue will reach £20.80 billion by fiscal year 2024, with adjusted EBITDA projected to be £8.15 billion. In comparison, the figures for fiscal year 2023 were £20.43 billion and £8.0 billion, respectively.
Chief Executive Allison Kirkby expressed satisfaction with the results, stating, “BT Group has delivered another quarter of revenue and EBITDA growth, while rapidly building and upgrading customers to our full-fibre broadband and 5G networks, and we continue to be on track to achieve our financial outlook for the year.”