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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bt Group Plc | LSE:BT.A | London | Ordinary Share | GB0030913577 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.55 | 1.50% | 105.10 | 105.00 | 105.10 | 106.25 | 103.60 | 104.15 | 17,449,131 | 16:35:05 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Phone Comm Ex Radiotelephone | 20.92B | 1.91B | 0.1916 | 5.48 | 10.44B |
From May 2019 to May 2024
TIDMBT.A
RNS Number : 3295V
BT Group PLC
02 November 2017
BT Group plc
Results for the second quarter to 30 September 2017
2 November 2017
BT Group plc (BT.L) today announced its results for the second quarter and half year to 30 September 2017.
Key developments for the quarter
Strategic:
-- Bringing together BT Consumer and EE is progressing well under new leadership team
-- Openreach consultation identified broad industry support and key enablers for a large-scale FTTP broadband network
-- Voluntary offer made to deliver the Government's goal for universal broadband access
-- Continued improvement in customer experience metrics; Group NPS(1) up 3.8 points and Right First Time up 2.3%
-- Transformation programme and restructuring initiatives on track
-- Review of future pension benefits continues and we expect to consult with affected employees on proposed changes shortly
Operational:
-- BT Consumer revenue generating units per customer increased 3% to 2.01; monthly mobile ARPU up 9% to GBP20.9
-- Mobile postpaid net subscriber additions of 279,000, with low churn of 1.2%
-- Openreach fibre connections remain high at 505,000, with fibre broadband now passing 27.1m UK premises
-- Order intake up 22% to GBP3.8bn for Business and Public Sector and up 32% to GBP1.8bn for Wholesale and Ventures,
on a 12-month rolling basis
-- Taking robust actions to improve the performance of Global Services
Financial:
-- Reported revenues down 1% to GBP5,949m and underlying(2) revenue down 1.5%
-- Adjusted(2) EBITDA decreased 4% to GBP1,811m, reflecting investment in sports rights and customer experience, along with higher pension costs, business rates and decline in Global Services partly offset by cost savings
-- Net cash inflow from operating activities of GBP1,270m down GBP464m, and normalised free cash flow(2) of GBP689m down GBP205m due to working capital phasing and higher capital expenditure
-- Interim dividend for future years set at 30% of prior year's full year dividend. Interim dividend for this year held flat at 4.85 pence per share. Progressive dividend policy unchanged
Hot Features
Premium
-- Full year outlook maintained
Gavin Patterson, Chief Executive, commenting on
the results, said
"Our first half results are in line with our expectations
as encouraging results in our consumer facing lines
of business, notably EE, helped offset ongoing
challenges in our enterprise divisions, in particular
Global Services. Given our underlying business
performance, we are maintaining our outlook for
the year.
"As the UK's leading converged telecommunications
provider we continue to make positive progress
on all our strategic priorities. Improving customer
experience is critical to our success and we have
seen continued positive progress underpinned by
investments in operational improvements, increased
network quality and customer-centric product development.
Our integration and restructuring programmes are
also on track to deliver run-rate savings of GBP250m
and GBP150m respectively by the end of this year.
We are working closely with the UK Government,
Ofcom and our Communications Provider partners
to find the right solutions to accelerate the deployment
of fibre and our universal broadband commitment.
We are committed to delivering ultrafast speeds
to 12 million premises by the end of 2020.
"From next year the interim dividend per share
will be fixed at 30% of the prior year's full year
dividend. However, in this transitional year, we
are proposing to hold our interim dividend at 4.85
pence per share. Our progressive dividend policy
remains unchanged."
=========================================================================== ============
Second quarter Half year to
to 30 September
30 September 2017
2017
================================= ===================== ==============================
GBPm Change(4) GBPm Change(4)
================================= ======== =========== ================ ============
Reported measures
Revenue 5,949 (1)% 11,786 -
Profit before tax 666 (1)% 1,084 (22)%
Basic earnings per share 5.3p (7)% 8.2p (29)%
Net cash inflow from
operating activities 1,270 GBP(464)m 2,585 GBP(483)m
Interim dividend 4.85p -
Adjusted measures
Change in underlying(2)
revenue excluding transit (1.5)% (0.7)%
Adjusted(2) EBITDA 1,811 (4)% 3,596 (3)%
Change in underlying(2)
EBITDA (4.1)% (3.3)%
Adjusted(2) profit
before tax 789 (10)% 1,580 (6)%
Adjusted(2) basic
earnings per share 6.4p (11)% 12.7p (8)%
Normalised free cash
flow(2) 689 GBP(205)m 1,245 GBP(97)m
Net debt(2) 9,520 GBP(47)m(3)
================================== ======== =========== ================ ============
(1) Group NPS measures Net Promoter Score in our retail businesses and Net Satisfaction in our wholesale businesses
(2) See Glossary on page 2
(3) Revised, see note 1 to the condensed consolidated financial statements (4) Measured against the comparative period in the prior year
Group results for the second quarter to 30 September 2017
Second quarter Half year
to 30 September to 30 September
=========================== =========================== =============================
2017 2016 Change 2017 2016 Change
GBPm GBPm % GBPm GBPm %
=========================== ======== ======= ======== ======= ========= =========
Revenue
- reported 5,949 6,007 (1) 11,786 11,782 -
- adjusted(1) 5,951 6,053 (2) 11,800 11,828 -
- change in underlying(1)
revenue excluding
transit (1.5) (0.7)
=========================== ======== ======= ======== ======= ========= =========
EBITDA
- reported 1,742 1,739 - 3,209 3,524 (9)
- adjusted(1) 1,811 1,888 (4) 3,596 3,706 (3)
- change in underlying(1)
EBITDA (4.1) (3.3)
=========================== ======== ======= ======== ======= ========= =========
Operating profit
- reported 850 870 (2) 1,452 1,800 (19)
- adjusted(1) 919 1,019 (10) 1,839 1,982 (7)
=========================== ======== ======= ======== ======= ========= =========
Profit before tax
- reported 666 671 (1) 1,084 1,388 (22)
- adjusted(1) 789 873 (10) 1,580 1,675 (6)
=========================== ======== ======= ======== ======= ========= =========
Basic earnings per
share
- reported 5.3p 5.7p (7) 8.2p 11.6p (29)
- adjusted(1) 6.4p 7.2p (11) 12.7p 13.8p (8)
=========================== ======== ======= ======== ======= ========= =========
Interim dividend 4.85p 4.85p -
=========================== ======== ======= ======== ======= ========= =========
Capital expenditure 858 803 7 1,693 1,580 7
=========================== ======== ======= ======== ======= ========= =========
Normalised free cash
flow(1) 689 894 (23) 1,245 1,342 (7)
=========================== ======== ======= ======== ======= ========= =========
Net debt(1) 9,520 9,567(2) GBP(47)m
=========================== ======== ======= ======== ======= ========= =========
Line of business results
Adjusted(1) Adjusted(1) Normalised
revenue EBITDA free cash flow(1)
================= ======================= ======================= ==========================
Second quarter 2017 2016 Change 2017 2016 Change 2017 2016 Change
to
30 September GBPm GBPm % GBPm GBPm % GBPm GBPm %
================= ====== ====== ======= ====== ====== ======= ======= ======= ========
BT Consumer 1,261 1,251 1 245 252 (3) 23 90 (74)
EE 1,326 1,277 4 326 282 16 224 135 66
Business and
Public Sector 1,153 1,177 (2) 358 387 (7) 270 306 (12)
Global Services 1,262 1,409 (10) 81 132 (39) 46 58 (21)
Wholesale and
Ventures 505 522 (3) 187 204 (8) 120 155 (23) Openreach 1,281 1,273 1 624 630 (1) 184 456 (60) Other 3 1 n/m (10) 1 n/m (178) (306) (42) Intra-group items (840) (857) (2) - - - - - - ================= ====== ====== ======= ====== ====== ======= ======= ======= ======== Total 5,951 6,053 (2) 1,811 1,888 (4) 689 894 (23) ================= ====== ====== ======= ====== ====== ======= ======= ======= ========
(1) See Glossary
(2) Revised, see note 1 to the condensed consolidated financial statements
n/m = not meaningful
Glossary of alternative performance measures
Adjusted Before specific items
Free cash flow Cash generated from operations (after
capital expenditure) excluding pension
deficit payments and after interest,
tax and non-current asset investments
Net debt Loans and other borrowings (both current
and non-current), less current asset
investments and cash and cash equivalents.
Currency denominated balances within
net debt are translated to Sterling
at swapped rates where hedged
Normalised free Free cash flow before specific items
cash flow and the cash tax benefit of pension
deficit payments
Specific items Items that in management's judgement
need to be disclosed separately by virtue
of their size, nature or incidence.
Further information is provided in note
4 on page 28
Underlying Excludes specific items, foreign exchange
movements and the effect of acquisitions
and disposals. Further information is
provided in note 2 on page 35
================ ============================================
Reconciliations to the most directly comparable IFRS measures are in Additional Information on pages 35 to 37. Our commentary focuses on the trading results on an adjusted basis. Unless otherwise stated in the commentary, revenue, operating costs, earnings before interest, tax, depreciation and amortisation (EBITDA), operating profit, profit before tax, net finance expense, earnings per share (EPS) and normalised free cash flow are measured before specific items. Further information is provided in note 1 on page 35.
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/3295V_-2017-11-1.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR UGGWGGUPMPGG
(END) Dow Jones Newswires
November 02, 2017 03:00 ET (07:00 GMT)
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