Light Reading

BT Reports Fiscal Q3

Light Reading
News Wire Feed
Light Reading
1/31/2014
50%
50%

LONDON -- BT Group plc (BT.L) today announced its results for the third quarter and nine months to 31 December 2013.

Gavin Patterson, Chief Executive, commenting on the third quarter results, said:

"This is an encouraging set of results, with profit before tax up 8%, earnings per share up 12% and growth in revenue.

"Our strategic investments are delivering. It was another record quarter for fibre take-up and there are now more than 18 million premises with access to our fibre. That number will grow further as the BDUK programme progresses.

"Fibre helps SMEs to compete and underpins our TV plans. Our direct BT Sport customer base passed 2.5 million in the quarter and helped to support 6% revenue growth in our Consumer business. We achieved some particularly strong audience figures in December and the exclusive rights to the UEFA Champions League and UEFA Europa League that we have won will further strengthen the appeal of our proposition.

"Outside the UK our businesses in the high-growth regions of the world again delivered double-digit revenue growth.

"The momentum on our cost transformation has enabled us to raise our EBITDA outlook for the year. It is important that we keep up the progress we are making across the group whilst continuing to focus on improving the service we provide to our customers.”

Financial highlights for the third quarter:

  • Underlying revenue excluding transit up 2.4% compared with a decline of 3.2% in the prior year
  • EBITDA flat at £1,537m, with cost transformation offsetting the investment in BT Sport
  • Earnings per share up 12% 2013/14 EBITDA now expected to be at the upper end of the £6.0bn-£6.1bn range

    Overview
    The results for the quarter demonstrate further progress towards sustainable and profitable revenue growth. Underlying revenue excluding transit was up 2.4% with the benefits from our strategic investments offsetting regulatory pressures.

    BT Global Services delivered a strong performance helped by the timing of contract milestones and supported by our operations in the high-growth regions of the world. BT Retail generated strong revenue growth driven primarily by Consumer and achieved further growth in Business IT services. BT Wholesale reported another good order intake although its revenue was impacted by the migration of services off a previously terminated contract.

    We have now passed more than 18m premises in the UK with our fibre broadband network and are making progress with extending the reach of fibre to rural areas. Openreach achieved 339,000 net fibre connections, an increase of 38%, with around 2.4m homes and businesses now connected. We added 228,000 retail fibre broadband customers, up 14%, and now have around 1.9m customers.

    The UK broadband market grew by 252,000 in the quarter, 4% more than in the third quarter last year, of which our share of net additions was 150,000, or 60%. We have more than 2.5m direct BT Sport customers, as people continue to be attracted to our great value offering, and we achieved some particularly strong audience figures in December. During the quarter we further strengthened our football proposition, winning the exclusive live broadcast rights for the UEFA Champions League and the UEFA Europa League for three seasons from 2015/16.

    We continue to make good progress in transforming our cost base and this has enabled us to raise our EBITDA outlook for the year. We are also making further investments to improve our customer service.

    BT Group plc (NYSE: BT; London: BTA)

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Flash Poll
    From The Founder
    Network architects aiming to upgrade their networks to support agile, open, virtualized services in the 21st century need to consider new criteria when choosing between technology suppliers.
    Live Streaming Video
    BTE 2015 Sponsor Keynote: HP
    Dr. Prodip Sen, CTO, Network Functions Virtualization, HP
    LRTV Documentaries
    IoT in Action

    6|30|15   |   1:39   |   (5) comments


    Two co-workers discuss the benefits of IoT technology.
    LRTV Interviews
    Ericsson Opens Up on OPNFV

    6|30|15   |   14:16   |   (0) comments


    Martin Bäckström, VP and head of industry area Datacom at Ericsson, talks to Light Reading founder and CEO Steve Saunders about the emergence of OPNFV, the importance of standards and Ericsson's OPNFV plans.
    LRTV Custom TV
    NetNumber Founder Discusses NFV/SDN Impact on SP Networks

    6|26|15   |   4:15   |   (0) comments


    NetNumber Founder Doug Ranalli examines why SPs need a new network infrastructure for service agility. While NFV and SDN are the tools, the old ways of thinking about signaling control are inhibitors. Doug provides his recommendations.
    LRTV Custom TV
    Orchestrating NFV vCPE Services Across Multivendor Networks

    6|26|15   |   5:46   |   (0) comments


    Nirav Modi provides an overview of vCPE, the fastest-growing NFV use case, showing how Cyan's Blue Planet orchestrates vCPE services across a multivendor infrastructure to rapidly deliver new managed services for business customers.
    LRTV Custom TV
    ZTE at LTE Summit Amsterdam 2015

    6|26|15   |     |   (0) comments


    As one of the leading global telecommunications providers, ZTE presented its cutting-edge technology at LTE World Summit 2015 in Amsterdam. On display at ZTE's booth were the latest R&D achievements in wireless, 5G development, HetNet, deep convergence of FDD and TDD, and RCS/IMD/iSDN/vCN.
    LRTV Documentaries
    OPNFV Director Opens Up on Women in Tech

    6|25|15   |   3:25   |   (0) comments


    Heather Kirksey, the director of the OPNFV, gets real about the gender disparity in open source and standards and discusses how we can change both the conversation and the gender dynamics.
    LRTV Custom TV
    Symantec's Service Provider Security Strategy

    6|24|15   |   7:06   |   (0) comments


    Didi Dayton explores Symantec's emerging enterprise security strategies for service providers. Highlights include 'killing the password,' self-defense, advanced analytics and adaptive response in a service provider architecture.
    Between the CEOs
    Debating Network Evolution With Cisco's Cedrik Neike

    6|23|15   |   12:54   |   (2) comments


    Cedrik Neike, SVP of Global Service Provider, Service Delivery, at Cisco, talks to Light Reading founder and CEO Steve Saunders about solving service provider customer problems in a virtualized, DevOps world, including multivendor support and the future of network procurement.
    LRTV Documentaries
    Vodafone: What's Good for Moms Is Good for Business

    6|23|15   |   3:04   |   (3) comments


    Megan Doberneck, the general counsel for Vodafone Americas, discusses her company's progressive maternity policy, explains why promoting women in tech is good business and offers some some good advice for any women in the industry.
    LRTV Interviews
    NFV: Ready for Prime Time

    6|23|15   |   05:09   |   (1) comment


    At BTE 2015, Vip mobile CTO Dejan Kastelic talks about how NFV is ready for the real world and how Telekom Austria is introducing centralized resources for its group operations.
    LRTV Documentaries
    Tykes Talk Tech

    6|22|15   |   02:30   |   (9) comments


    What does optical fiber look like? When will 5G arrive? What's the WiFi password at Ikea? Light Reading sat down with three 8-year-olds to answer some of the communications industry's most burning questions...
    LRTV Huawei Video Resource Center
    Huawei Partners With TDC for World's First Early DOCSIS 3.1 Field Test

    6|22|15   |   3:06   |   (0) comments


    In a move to enhance user experience, Denmark's TDC aims to become an early adopter of DOCSIS 3.1. In partnership with Huawei, TDC recently ran the world's first field tests on its coax network that reached speeds nearing 1 Gbit/s.
    Upcoming Live Events
    September 16-17, 2015, The Westin Galleria Dallas, Dallas, TX
    September 29-30, 2015, The Westin Grand Müchen, Munich, Germany
    October 6, 2015, The Westin Peachtree Plaza, Atlanta, GA
    October 6, 2015, Westin Peachtree Plaza, Atlanta, GA
    October 14-15, 2015, New Orleans Ernest N. Morial Convention Center, New Orleans, LA
    All Upcoming Live Events
    Infographics
    Hot Topics
    Staying Productive With My Office-in-a-Bag
    Mitch Wagner, West Coast Bureau Chief, Light Reading, 6/25/2015
    Who's Feeding Fiber to LinkNYC Hotspots?
    Mari Silbey, Senior Editor, Cable/Video, 6/29/2015
    Colt to Jettison Ailing IT Business
    Iain Morris, News Editor, 6/30/2015
    Eurobites: Activist Investor Takes Stake in AlcaLu
    Paul Rainford, Assistant Editor, Europe, 6/30/2015
    Like Us on Facebook
    Twitter Feed
    Webinar Archive
    BETWEEN THE CEOs - Executive Interviews
    Casa Systems has been going from strength to strength over the last couple of years. In 2013, it became the first vendor to ship an integrated CCAP device -- the ...
    Cedrik Neike, SVP of Global Service Provider, Service Delivery, at Cisco, talks to Light Reading founder and CEO Steve Saunders about solving service provider customer problems in a virtualized, DevOps world, including multivendor support and the future of network procurement.
    Cats with Phones