Dividend to be paid 5 Feb 2025 |
EBITA up 115m |
Time to watch bt now for divi.. May drift to 123p as b4. |
Cost controls in a good place and cash flow forecasts very much on track, which is the key foundation for BT from here. |
It's just testing the resolve of weak holders. Back up shortly. |
This drop is a little over reaction |
Vodafone makes world’s first space video call from an area of no coverage using a standard mobile phone and commercial satellites built to offer a full mobile broadband experience |
All sounds very nice but can someone explain why when I went to renew my BT broadband contract they said it had to be with EE and now (and a lot of other people) can't see any detail of our bills and the just continue taking the money out of my bank account? |
Revenue down EBITA up. |
 Trading update for the quarter and nine months to 31 December 2024
BT Group plc - 30 January 2025
Allison Kirkby, Chief Executive, commenting on the results, said
"Our ongoing modernisation continues at pace, delivering a further step-up in fibre build and take-up, customer satisfaction and EBITDA. Benefits from our cost transformation more than offset lower revenue outside the UK and weak handset sales.
"Openreach again performed strongly with the highest ever full fibre build, passing more than 1 million premises for the fourth consecutive quarter, and connecting a new record of nearly half a million customers. Consumer returned to service revenue growth and continued to expand its full fibre and 5G customer bases. In Business, our core UK channels were stable. Cost transformation remains firmly on track, with excellent progress on both energy costs and productivity in the quarter.
"We continue to make progress towards becoming fully focused on the UK, with the sale of our data centre business in Ireland. I am also very pleased to welcome Jon James to BT's Executive Committee as the new CEO of a UK-centric BT Business, effective early March. This appointment enables Bas Burger to dedicate his time to the optimisation of our international business segment, which is progressing to plan.
"BT's continued delivery means we remain on track to deliver our financial outlook for this year and our cash flow inflection to c.£2.0bn in 2027 and c£3.0bn by the end of the decade." |
BT Belfast reveals plans to make 90 staff members redundant this year
Staff have told Belfast Live it was an "out of the blue" announcement made on Tuesday with redundancies in place
One of Northern Ireland's biggest employers has announced nearly 100 staff members will be made redundant this year. There are 90 positions at BT's headquarters at Riverside Tower in Belfast impacted by changes at the company.
Staff have told Belfast Live it was an "out of the blue" announcement made on Tuesday, with redundancies in place from May 31. One staff member added: "It's a huge shock to the people impacted but also the economy."
A BT Group spokesperson said: “Today, we shared proposals with a small number of colleagues in Belfast to transfer some of the work they do to other BT office locations. We are discussions with anyone affected by our proposals and, if we go ahead, we have shared other opportunities in the wider Belfast office. There is no impact to customers.”
Read more: Belfast city centre bar withdraws application for Monday 'student nights'
In 2023, the company completed the multi-million-pound refurbishment of its flagship Riverside Tower office in Belfast, and stated it "continues to invest in the region." A spokesperson added: "Belfast remains a strategic location for BT Group and is home to around 2,000 colleagues from across the company, including EE, BT Business and Openreach."
Sinn Féin MP John Finucane has said BT must do all it can to protect as many jobs as possible at its Belfast headquarters. The North Belfast MP said: “News that 90 positions in BT’s Belfast headquarters could be at risk of redundancy is concerning, and I want to firstly extend my solidarity to these workers as they learn about this news.
“This will come as a devastating blow to these workers and their families, some with decades-long experience at the company.
“I will be writing to the company calling on its management to do everything it can to retain as many jobs as possible, and support those workers made redundant with retraining or re-skilling. BT must now ensure they work alongside trade unions to keep employees informed of any developments as this process develops.”
Across BT Group, the company employs more than 3,400 people in Northern Ireland, with its activities here contributing more than £630million to the local economy.
In January 2024, BT Group announced plans to recruit nearly 40 apprentices and graduates in Belfast for its September intake. The company recruited apprentices in software engineering, customer service, applied research, data analytics and cyber-security. The roles included 28 graduate jobs and 11 apprenticeships.
Last October, 300 staff members at a BT call centre in Enniskillen were made redundant, with many of the employees involved taking voluntary redundancy. |
What meeting |
BT CEO invited to the big meeting today. |
Given yesterday's tech rout maybe peeps will start to see the UK as a reasonable place to invest.
Hope so.
Suet |
Stop giving away freebies for a monthly token price on mobiles...all you can eat texts, minutes and data... |
BT struggles for growth
BT is facing intensifying competition and regulatory pressures and at the first-half stage the company trimmed its estimates for full-year sales.
AJ Bell analysts say that “at least this means expectations are low as Allison Kirkby becomes the latest BT boss to try and negotiate the many cross-currents that face the company”.
This is probably no bad thing, say Bell’s researchers in a note, as BT is finding it hard to generate much by way of growth overall.
BT has had to backtrack on its prior forecast of growth in sales for the full year to March 2025. Management now expects a drop of 1% to 2%.
Watch out for updates on the £3 billion cost-cutting programme, the rapidly shrinking pension deficit and progress at the merged BT Sport-Discovery Eurosport business.
The company last week reported that half of Scottish homes and businesses can now get connected to ultrafast, reliable broadband following Openreach investment in the new digital network.
It has spent more than £435 million on full fibre links for Scotland so far, with 1.45 million properties now able to upgrade and take-up at 38% ahead of the UK average.
Katie Milligan, Openreach chief commercial officer and chair of its Scotland board, said: “Fast, reliable connectivity is a game-changer in every part of Scotland. It fuels economic growth and can support the redistribution of economic activity to less populated areas.
“This is quite simply one of the most significant infrastructure upgrades Scotland will see this century. We’re paving the way to future job creation, remote work, digital learning, and innovative healthcare access.” |
Name says it all really. Wittyif nothing else |
BT looks a long term hold |
Report in the press today that BT (EE) is concerned by Apples power in the mobile market.
They want monopoly people to look at the implications of the 'virtual sim' being introduced by Apple.
VOD are also concerned.
Should we be worried about this? |
At £1.42 now, BT’s share price looks cheap to me anywhere under £3.64
BT’s shares have dropped 12% from their 12-month traded high of £1.61, leaving them looking undervalued to me, and yielding an attractive 5.6% as well. |
Wasn't Openreach supposed to be the Golden goose?... |
The amount of broker notes that come out for BT and VOD so often is a suspect...do they have an agenda... |
Sounds like some nervous shorts need a few shares. |
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