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’