BT Q1: ‘A good start’

Gavin Patterson, BT Chief Executive, has described the telco’s first quarter 2018 results as “a good start to the year”, making good progress against its strategy

BT reported revenue of £5.715 billion, with underlying revenue down 2 per cent as regulated price reductions in Openreach and declines in its enterprise businesses offset growth in its consumer business. Adjusted EBITDA rose to £1.8 billion, mainly driven by stronger handset margins in its consumer business and restructuring related cost savings. Reported profit before tax was £704 million, with adjusted profit before tax up 3 per cent at £816 million.

Source: BT Q1: ‘A good start’