LONDON (dpa-AFX) - Telecom major BT Group plc (BT_A.L) reported Thursday lower profit in its first quarter with weal revenues. Further, the company said it is on track to achieve fiscal 2026 guidance.
In its trading update, the company reported profit before tax of 468 million pounds, down 10% from last year, primarily due to an increase in net finance costs and depreciation and amortisation.
First-quarter adjusted EBITDA dropped 1 percent to 2.05 billion pounds from last year's 2.06 billion pounds. Adjusted EBITDA in Consumer business fell 3 percent and Business fell 9 percent, partly offset by 5 percent growth in Openreach.
Total revenue, on a reported and adjusted basis, dropped 3 percent year-on-year to 4.88 billion pounds, mainly due to weaker handset sales in Consumer and continued challenging international trading, offsetting the benefit of FTTP growth in Openreach and price increases. Adjusted UK service revenue was 3.86 billion pounds, down 1 percent from the prior year.
Consumer revenues declined 3 percent to 2.33 billion pounds, and Business revenues fell 6 percent, while Openreach revenues grew 1 percent.
Looking ahead, the company reconfirmed all FY26 and multi-year financial outlook metrics.
In fiscal 2026, the Group still expects adjusted EBITDA between 8.2 billion pounds and 8.3 billion pounds, adjusted group revenue of approximately 20 billion pounds, and adjusted UK service revenue of between 15.3 billion pounds and 15.6 billion pounds.
Allison Kirkby, Chief Executive, said, 'BT has had a solid start to the year, with our full fibre broadband now reaching more than 19 million homes and businesses and our 5G network available to over 87% of the UK population. We're seeing strong customer demand for our next-generation broadband and mobile connectivity across all our brands... BT is investing more than anyone else in the nation's networks, we're connecting customers faster, and we're on track to deliver our targets for this year, next year, and the end of the decade - creating a better BT, for all of us.'
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