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TalkTalk Telecom Posts Profit In H1, Revenues Down; FY20 View Remains Unchanged

TalkTalk Telecom Group plc (TALK.L) reported Friday that its first-half profit before taxation, on a pre-IFRS 16 basis, was 4 million pounds, compared to last year's loss of 4 million pounds.

On IFRS 16 basis, latest profit before tax was 1 million pounds.

Pre-IFRS 16 operating profit climbed to 28 million pounds from prior year's 19 million pounds. Headline EBITDA increased to 115 million pounds from 101 million pounds last year.

Revenue, meanwhile, dropped to 792 million pounds from prior year's 822 million pounds. Headline revenue, excluding Carrier and Off-net, was 764 million pounds, down from 771 million pounds a year ago.

Looking ahead, the company said its Headline EBITDA outlook for the year remains unchanged, with increased Fibre penetration and HQ move efficiencies driving a materially lower cost base.

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