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BT Group H1 Pre-tax Income Falls, But Revenue Rises

BT Group Plc (BT), a British telecommunications firm, on Thursday posted a decline in pre-tax earnings for the first-half, that reflected increased depreciation from network build and higher specific costs.

However, the company's revenue moved up due to growth in Consumer and Openreach divisions.

For the first-half to September 30, the UK-based company posted a pre-tax income of 831 million pounds, compared with 1.009 billion pounds a year ago.

Post-tax earnings were at 893 million pounds or 9.1 pence per basic share, higher than last year's 431 million pounds or 4.4 pence per share, posted for the same period of 2021.

Excluding items, basic earnings per share fell to 10 pence from 10.2 pence per share, posted for the first-half of 2021.

Adjusted EBITDA stood at 3.873 billion pounds as against 3.748 billion pounds a year ago.

Consumer division generated adjusted revenues of 4.992 billion pounds, versus 4.857 billion pounds of previous year.

Adjusted revenue from Openreach division was at 2.836 billion pounds, higher than 2.707 billion pounds, posted for the first-half of 2021.

The Group reported total revenue of 10.366 billion pounds, higher than 10.305 billion pounds, a year ago.

BT Group has declared an interim dividend of 2.31 pence per share, unchanged from last year's 2.31 pence per share.

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