Britain's BT returns to revenue growth, reaffirms guidance

BT Group met market expectations on Thursday with a 1% increase in first-quarter revenue, helped by price rises and improved trading in its consumer division and Openreach networks. The company, which on Friday faces a strike by 40,000 workers over pay, reported core earnings up 2% at 1.9 billion pounds ($2.3 billion) on revenue of 5.1 billion pounds and said it remained confident about its outlook.


Reuters | London | Updated: 28-07-2022 12:14 IST | Created: 28-07-2022 12:12 IST
Britain's BT returns to revenue growth, reaffirms guidance
BT Group Image Credit: Wikimedia
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BT Group met market expectations on Thursday with a 1% increase in first-quarter revenue, helped by price rises and improved trading in its consumer division and Openreach networks.

The company, which on Friday faces a strike by 40,000 workers over pay, reported core earnings up 2% at 1.9 billion pounds ($2.3 billion) on revenue of 5.1 billion pounds and said it remained confident about its outlook. Chief Executive Philip Jansen said BT was performing well operationally and had returned to revenue and core earnings growth in the three months to June 30 despite ongoing challenges in its enterprise business.

"We are delivering and, notwithstanding the current economic uncertainty, we remain confident in our outlook for this financial year," he said. BT said it had plans in place to minimize disruption and keep customers connected during the two-day strike.

($1 = 0.8210 pounds)

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