BT Group profits fall in Q1 as weakness in global, consumer segments

Writer, Stock Market Wire
Friday, August 2, 2019 - 07:19

BT Group reported a fall in reported profits in the first quarter, led by weaknesses in its global and Enterprise segments.

For the three ended 30 June, reported profit before tax fell 8.8% to £642m as revenue fell 1% to £5,633m, due to decreases in consumer, enterprise and global divisions, with revenue down 1%, 5% and 5% respectively.

Reported capital expenditure of £931m was up 11% primarily due to network investment and customer-driven costs.

BT launched the UK's first 5G network during the quarter and said it was on track to meet its outlook for the full year.

'BT delivered results in line with our expectations for the quarter, with adjusted EBITDA declines in Consumer and Enterprise partly offset by growth in Global. We are on track to meet our outlook for the full year,' said Philip Jansen, Chief Executive.

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