Telecoms group BT Group Plc (BT.A.L) gained this morning after a statement from the company revealed a profit increase of 8% in the 3rd quarter and raised its full year earnings outlook. The strong performance was due to increased earnings in its fibre broadband business and the success of its new sports channels.
Gavin Patterson, Chief Executive, commenting on the third quarter results, said:
“This is an encouraging set of results, with profit before tax up 8%, earnings per share up 12% and growth in revenue. Our strategic investments are delivering. It was another record quarter for fibre take-up and there are now more than 18 million premises with access to our fibre. That number will grow further as the BDUK programme progresses. Fibre helps SMEs to compete and underpins our TV plans. Our direct BT Sport customer base passed 2.5 million in the quarter and helped to support 6% revenue growth in our Consumer business. We achieved some particularly strong audience figures in December and the exclusive rights to the UEFA Champions League and UEFA Europa League that we have won will further strengthen the appeal of our proposition. Outside the UK our businesses in the high-growth regions of the world again delivered double-digit revenue growth. The momentum on our cost transformation has enabled us to raise our EBITDA outlook for the year. It is important that we keep up the progress we are making across the group whilst continuing to focus on improving the service we provide to our customers.”
Telecoms group BT Group Plc (BT.A.L) gained this morning after a statement from the company revealed a profit increase of 8% in the 3rd quarter and raised its full year earnings outlook. The strong performance was due to increased earnings in its fibre broadband business and the success of its new sports channels.
Gavin Patterson, Chief Executive, commenting on the third quarter results, said:
“This is an encouraging set of results, with profit before tax up 8%, earnings per share up 12% and growth in revenue. Our strategic investments are delivering. It was another record quarter for fibre take-up and there are now more than 18 million premises with access to our fibre. That number will grow further as the BDUK programme progresses. Fibre helps SMEs to compete and underpins our TV plans. Our direct BT Sport customer base passed 2.5 million in the quarter and helped to support 6% revenue growth in our Consumer business. We achieved some particularly strong audience figures in December and the exclusive rights to the UEFA Champions League and UEFA Europa League that we have won will further strengthen the appeal of our proposition. Outside the UK our businesses in the high-growth regions of the world again delivered double-digit revenue growth.
The momentum on our cost transformation has enabled us to raise our EBITDA outlook for the year. It is important that we keep up the progress we are making across the group whilst continuing to focus on improving the service we provide to our customers.”
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