News

BT Group Reports 15% Rise in Pretax Profit for Nine Months

1 Mins read

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.”

Related posts
News

North Korea Accused of Stealing Billions Through Cyberattacks to Fund Nuclear Program

3 Mins read
An international report reveals North Korea’s extensive cyber operations, detailing billions stolen through cryptocurrency theft, fake remote tech jobs, and malware, all…
News

The silent war: When virtual attacks inflict real-world devastation

3 Mins read
As digital transformation accelerates worldwide, cyberspace has become vital to the economy and society — but also a high-risk arena for data…
News

'Ether Caught Fire': ETH Surged as Capital Fled Bitcoin in Q3, CoinGecko Report Finds

2 Mins read
Ethereum (ETH) emerged as the frontrunner in crypto’s third-quarter recovery, leaving bitcoin (BTC) behind as capital flowed into altcoins, DeFi protocols, and…

Leave a Reply

Your email address will not be published. Required fields are marked *

91 − = 86