BT Group Sees Fiscal Year 2019 Revenue, Ebitda Hit by New Accounting Standards

   By Oliver Griffin 
 

BT Group PLC (BT.A.LN) said Monday that it expects revenue and Ebitda in fiscal 2019 to be negatively affected by its adoption of new IFRS 15 accounting standards.

The U.K. telecommunications company said it expects the impact on revenue for the current financial year to be in the high tens of millions of pounds, while earnings before interest, taxes, depreciation and amortization are expected to take a hit in the low tens of millions of pounds.

Cash flow isn't expected to be affected by the change in accounting standards, BT said.

On an IFRS 15 basis, BT said that its outlook for adjusted Ebitda--which strips out specific items--is unchanged in a range between 7.3 billion and 7.4 billion pounds ($9.7 billion and $9.8 billion).

Underlying revenue, which excludes specific items and foreign-exchange movements among other things, is expected to drop 2%, the company said.

Write to Oliver Griffin at [e-mail]

(END) Dow Jones Newswires

June 25, 2018 09:41 ET (13:41 GMT)

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