Share Name Share Symbol Market Type Share ISIN Share Description
BT Group 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
  +0.40p +0.13% 313.80p 313.60p 313.75p 317.35p 312.65p 313.60p 25,893,356 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Fixed Line Telecommunications 24,062.0 2,354.0 19.2 16.3 31,256.02

BT Profit Third Quarter Net Profit Fell 51% After Italy Write-Down

27/01/2017 8:13am

Dow Jones News


BT Group (LSE:BT.A)
Historical Stock Chart

6 Months : From Nov 2016 to May 2017

Click Here for more BT Group Charts.

By Simon Zekaria

 

LONDON--BT Group PLC (BT.A.LN) Friday reported a 51% fall in net profit on the bigger-than-expected write-down related to an accounting scandal at its business in Italy, details of which sent the British telecom operator's stock reeling when they were announced earlier this week.

The U.K.-based media company posted net profit of GBP374 million ($469 million) in the third fiscal quarter to Dec. 31, down from GBP766 million in the same period a year earlier.

BT said earnings for before interest, taxes, depreciation and amortization on an adjusted basis rose 18% to GBP1.87 billion, in line with company forecasts.

Revenue rose 32% to GBP6.13 billion, also in line with estimates, though when adjusted and at constant currencies, revenue fell 1.5%.

Tuesday, BT lowered its forecasts for revenue, earnings, and cash flow over the next two years, citing the problems in Italy where it investigating false accounting by senior executives which inflated profits. BT also gave a downbeat outlook for trading in the U.K. public sector and in international corporate markets. BT shares fell 21% on the day as investors digested the news.

Friday, BT reiterated that it expects adjusted Ebitda of around GBP7.6 billion this fiscal year.

 

-Write to Simon Zekaria at simon.zekaria@wsj.com

 

(END) Dow Jones Newswires

January 27, 2017 02:58 ET (07:58 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

1 Year BT Group Chart

1 Year BT Group Chart

1 Month BT Group Chart

1 Month BT Group Chart
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:35 V:gb D:20170527 00:37:21