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

$TRUMP and other meme coins won't be protected by SEC, Commissioner Hester Peirce says

3 Mins read
LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on…
News

Man charged in New York with 3-week kidnapping to try to steal Bitcoin

1 Mins read
NEW YORK (Reuters) -A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner inManhattan’s upscale Soho neighborhood…
News

Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

2 Mins read
Investors are advised to consider risk-reward balance and portfolio diversification.Trending NowBest Forex Trading Robots To Invest In 2022 Daan Struyven, co-head of…

Leave a Reply

Your email address will not be published.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

74 + = 84