BT Group Sees Fiscal Year 2019 Revenue, Ebitda Hit by New Accounting Standards
25 June 2018 - 11:56PM
Dow Jones News
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 oliver.griffin@dowjones.com
(END) Dow Jones Newswires
June 25, 2018 09:41 ET (13:41 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
BT (NYSE:BT)
Historical Stock Chart
From Apr 2024 to May 2024
BT (NYSE:BT)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about BT Group PLC (New York Stock Exchange): 0 recent articles
More BT Grp. Plc American Depositary Shares News Articles