BT Group Q1 Pre-tax Profit Down

Telecom company BT Group plc (BT_A.L,BT) Thursday reported that its profit before tax for the first quarter slid by 4 percent to 536 million pounds, in the absence of an year-ago gain from disposal of its domestic spanish operations.

However, the Group's adjusted EBITDA grew 3 percent to 1.87 billion pounds, due to lower cost of sales, cost savings from its ongoing transformation programme, lower indirect commissions and a one-off disposal of fixed assets.

BT Group's reported revenue for the first quarter slid by 3 percent to 5.07 billion pounds, reflecting challenging market conditions resulting from Covid-19, the impact of prior year divestments, negative foreign exchange movements, and ongoing legacy product declines.

Looking ahead, the Group said it is confirming its outlook and that it remains confident about its path to growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Nestle USA Inc., affiliated to Swiss food and beverage giant Nestle SA, is recalling around 27,872 pounds of frozen DiGiorno Crispy Pan Crust pepperoni pizza citing misbranding and undeclared soy protein, a known allergen, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. Eli Lilly and Co. is recalling one lot of GLUCAGON Emergency Kit for low blood sugar to the consumer/user level citing loss of potency, the U.S. Food and Drug Administration announced. The recall involves lot D239382D with expiration date of April 2022 of Glucagon Emergency Kit containing 1mg of freeze-dried (lyophilized) product in a 3 mL vial and a pre-filled diluent syringe. Twitter has rolled out the tipping feature called "Tips" for everyone around the globe using the microblogging site with more payment options to choose from, including cryptocurrencies such as Bitcoin. This is a new way for people to receive and show support on Twitter with money. The feature is currently available on iOS and will be available on Android over the coming weeks.
Follow RTT