BT Group 1Q Pretax Profit Fell, Adjusted Ebitda Rose
28 July 2022 - 04:59PM
Dow Jones News
By Kyle Morris
BT Group PLC said Thursday that pretax profit fell in the first
quarter of fiscal 2023, but that adjusted Ebitda rose due to flow
through from revenue and continued strong cost control.
The British telecommunications group said pretax profit for the
three months to June 30 was 482 million pounds ($585.9 million)
compared with GBP536 million for the same period last year.
Adjusted earnings before interest, taxes, depreciation and
amortization--which strips out exceptional and other one-off
items--for the quarter was GBP1.90 billion compared with GBP1.87
billion a year before. Analysts had forecast an adjusted Ebitda of
GBP1.89 billion, according to a company-provided consensus.
Revenue for the quarter was GBP5.13 billion compared with
GBP5.07 billion. Analysts had forecast revenue for the period of
GBP5.10 billion, according to a company-provided consensus.
"We are delivering and notwithstanding the current economic
uncertainty we remain confident in our outlook for this financial
year," Chief Executive Philip Jansen said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
July 28, 2022 02:44 ET (06:44 GMT)
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