BT Group sees earnings in upper half of guidance

BT Group PLC (BT.A.LN) said Thursday that it anticipates adjusted Ebitda for fiscal 2019 to be in the upper half of its guidance range, after posting higher earnings for the first half.

Adjusted earnings before interest, taxes, depreciation and amortization–BT’s preferred profit measure which strips out specific items–for the six months to Sept. 30 increased 1.9% to 3.68 billion pounds ($4.68 billion) from GBP3.61 billion a year before, the British telecommunications company said.

Pretax profit for the half year was GBP1.34 billion, ahead of analysts expectations of GBP1.25 billion, according to a consensus estimate provided by the company.

Will These October Surprises Impact the Midterm Elections?

First-half revenue fell 1.7% to GBP11.59 billion from GBP11.79 billion in the year-earlier period, BT said. On an underlying basis, revenue was down 0.9%, the company said.

For the year ending March 31, 2019, BT said it expects adjusted Ebitda to be in the higher half of its guidance of between GBP7.3 billion and GBP7.4 billion.

The board cut its interim dividend to 4.62 pence a share from 4.85 pence a year earlier.

Source: Read Full Article