BT Group Updates FY Outlook To Reflect Eurosport UK JV

BT Group plc (BT_A.L,BT, BTGOF) updated its annual outlook to reflect formation of Sports Joint Venture between BT Sport and Eurosport UK.

On 1 September 2022 BT Group and Warner Bros. Discovery announced completion of their transaction to form a 50:50 joint venture that combines the assets of BT Sport and Eurosport UK.

BT Group said Tuesday that forming the joint venture will reduce reported BT Group revenue for fiscal year 2023 by about 300 million pounds- 350 million pounds as a result of the seven months of fiscal year 2023 revenue transferring to the JV.

However, the company continues to expect underlying year on year Group revenue growth in fiscal year 2023 on a pro forma basis.

BT stated that its historical reported Group financials are unchanged.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT