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
Boeing and NASA announced further delay in the much expected launch of Starliner Crew Flight to the International Space Station following certain emerging issues with the capsule. Boeing has been developing its Starliner spacecraft after winning nearly $5 billion in contracts under NASA's Commercial Crew Program. Starliner's first crewed flight was earlier prepared for an April launch. Naperville, Illinois-based Chervon North America Inc. is recalling EGO Power+ Cordless Brushless Hedge Trimmers citing laceration hazard, the U.S. Consumer Product Safety Commission said. The recall involves EGO Power+ Model HT2410 Cordless Brushless Hedge Trimmers that were manufactured prior to March 30, 2019. About 85,000 units were sold in the United States and about 4,000 units were sold... Paterson, New Jersey - based E.N.A. Meat Packing Inc. is recalling around 39,947 pounds of frozen, raw lamb products that were imported without the benefit of import reinspection, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The products subject to recall include cartons weighing around 40-lb., containing raw frozen pieces of "Simunovic S.A. Frozen Bon
Follow RTT