BT Financial & Performance
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Financial & PerformanceIn it for the long haul: BT CEO stays course despite knockbacks
Q2/H1 FY25–26 roundup: Allison Kirkby declares BT to have produced a ‘solid’ six months, and remains bullish on long-term promises, but earnings are yet to reflect efforts as rivals puts pressure on pricing and poach customers…
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Financial & PerformanceGuidance: modest FY to give way for BT’s ambitious 2030 vision
Q2/H1 FY25–26: lack of ambition in FY targets ensures BT remains on track, but end-of-decade goals require transformation acceleration, and soon…
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Financial & PerformanceSpend: BT leaning on AI, job cuts to fuel cost-savings agenda
Q2/H1 FY25–26: cost-cutting agenda running ahead of schedule, and more momentum could be added as AI is deployed more widely and new Chief Digital Officer Peter Leukert gets his hands dirty. Headcount cuts are another major earnings driver as Business and Openreach shrink back…
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Financial & PerformanceIn-depth: BT falling back amid competition
Q2/H1 FY25–26: Group in decline across most metrics of note, but management confident that groundwork (and network) is being laid for a bounce back soon…
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Financial & PerformanceBT says Consumer ‘holding up’, despite ARPU slide — rejects MVNO B-brand
Q2/H1 FY25–26: UK incumbent ready to “compete and defend” against budget-focused rivals, doubling-down on unchanging multi-brand and convergence retail strategies. But lag in system means premium-first efforts are yet to be reflected in poor financials…
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Financial & PerformanceAfter nine years of decline, BT now stands at B2B turnaround ‘start line’
Q2 FY25–26: CEO heralds a reshaping, fully-focused BT Business now beginning its turnaround, nearly a decade after the Group last posted enterprise revenue growth. With International carved out, and several assets offloaded, greater scrutiny should be expected of what is left…
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Financial & PerformanceBT CEO snubs fibre M&A, doubling down on Openreach organic growth — despite accelerating line losses
Q2 FY25–26: Allison Kirkby showed little enthusiasm at thought of mopping up fibre altnets as part of much-anticipated consolidation, instead insisting Openreach is best focused on its own game, and set up to beat any incursion — notwithstanding line losses accelerating alarmingly…
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Financial & PerformanceBT drones investment Altitude Angel becomes latest Etc. venture to fall
Industry reacts as Altitude Angel appoints administrators, raises questions about airspace security, two years after BT’s £5m investment…
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Public AffairsBT’s Kirkby pulls no punches in review of UK regulatory, fiscal policy
Connected Britain: Allison Kirkby lets loose on Downing Street policy, with greater fiscal certainty needed to fund much-needed infra investment and AI adoption. Regulatory policy comes in for inevitable criticism too, as the BT boss sets the scene for the Chancellor’s upcoming Budget and Ofcom’s pending Telecoms Access Review…
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Financial & PerformanceRe-booting Plusnet cuts jobs, ‘streamlines’ operations
BT’s no-frills broadband brand posts another year of decline as it resets and restructures.
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Financial & PerformanceBT vs. Vodafone: UK has a new largest telco for the first time this century
BT Group’s resurgence under Allison Kirkby has pushed its market cap beyond that of Vodafone for the first time in 25 years, but there are plenty of caveats to both operators’ performance, and the real winner could be Sunil Bharti Mittal…
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Financial & PerformanceQ1: BT backers rewarded as confidence remains high
Q1 FY25–26: Group share price ticks up 50% in a year, boosted by Q1 earnings, suggesting Allison Kirkby’s new manager bounce has been sustained. Whether this will continue may well depend on BT’s ability to reverse current trends, as downtrodden business and consumer units continue to fall, despite Openreach best efforts…
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Financial & PerformanceQ1 In depth: BT boss claims ‘solid start’ despite shaky numbers
Q1 FY25–26: CEO Allison Kirkby persistent in long term strategy, but first quarter results put things in perspective. BT Business the usual headache; BT Consumer finds positives despite the headlines; and Openreach cements its reputation as a resilient source of resilient good news…
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Financial & PerformanceQ1 Guidance: BT unmoved by early trouble
Q1 FY25–26: Management reconfirms full-year guidance, with defiance made easier thanks to pessimistic outlook as laid out three months prior. Vague notions of ‘growth’ remain the target by the end of the decade…
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Financial & PerformanceQ1 FY25–26: Openreach fibre machine keeps rolling
Access services business keeping up its relentless build pace, while connections are soaring. UK fibre’s pre-eminent multi-tasker shows build can be accelerated alongside strong take-up, but broadband losses continue to mount in the meantime…
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Suppliers & SCMVendor rebellion: why major operators are ditching Oracle and VMware support contracts
BT and Telefónica are the first of numerous telcos to go on the record challenging software vendor dominance by shifting legacy IT support to third-party specialists. This analysis explores how Spinnaker Support is helping them slash costs, extend end-of-life IT, and reallocate resources…
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Financial & PerformanceBT FY24−25 Spend: ‘on and off’ contractors help keep cost-cutting on track
BT’s long-running cost-cutting campaign is in full swing, with headcount cuts driving the savings. Capex continues to rise despite earlier promises, but the (revised) peak is in sight…
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Financial & PerformanceBT FY24−25 In-depth: another year of transition
Group CEO Allison Kirkby has called the past year one of ‘transition’, but insists a turnaround is imminent. ‘Revenue pressure’ (see, decline) reflects a challenging FY for all divisions, but strategic and structural change at the Group may have set it up for delivery next FY and beyond…
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Financial & PerformanceBT FY24−25 Guidance: free cash flow ‘inflection point’ in touching distance
Group misses revised revenue targets, and expects another fall to come, but groundwork has been laid for elusive ‘predictable growth’ two years out…
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Financial & PerformanceBT FY24−25: no longer a newcomer, CEO Kirkby begins to make her mark
A year of mixed results, but CEO Allison Kirkby claims the strategic tweaks of her first 15 months are having an impact. A management team overhaul, a renewed domestic focus, and an apparent ability to capture investors’ imagination has set the Group on an upward trend, albeit with plenty of work to do to deliver on her vision…