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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