BT Financial & Performance
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Financial & PerformanceBT Enterprise dials down on B2B costs
BT Enterprise flags more cost-cutting measures are being implemented as COVID‑19 disruption adds to the broader challenges it faces in the digital era. As ever, partner and supplier consolidation and change is part of the plan. CEO Jansen presents enterprise 5G as bright spot amid ...
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Financial & Performance
BT Group Q2 FY20–21
Revenue and profit keep falling in pandemic. COVID‑19 creates noise and uncertainty, but BT is pushing its transformation story, asking for patience as stakeholders get twitchy. Openreach a lone bright spot, although Global may be benefitting from long‑term recovery strategy. An improved earnings forecast at ...
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Financial & Performance
BT spend: opex coming down, capex still building to peak
Simplified systems are bringing efficiency but lower trading giving an unwanted helping hand. Capex rising, but a sharp decline is anticipated with copper switch‑off.
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Financial & Performance
BT guidance: EBITDA recovery on horizon, sales rise fainter
Two more years of revenue decline ahead, but EBITDA improving and underpinning investment plans.
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Financial & Performance
BT Global braces for more COVID‑19 headwinds
Precipitous revenue declines continue for Global as pandemic makes its presence felt, but mitigation measures and ongoing transformation ease the pain on profit levels. Growing underlying strength of division offers hope beyond an anticipated tough second half.
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Financial & Performance
Margins slip as BT Consumer pursues quality
Another tough COVID‑19 ‑impacted quarter but management playing the long game, with a focus on premium services. Network investment continuing as division seeks an uplift from next‑generation platforms. BT reputation improving, but weaknesses remain outside core products, necessitating dual‑brand approach. Commercial partnerships remain a key strategic ...
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Financial & Performance
Openreach fibre thrives but volume deal prospects fade
A strong quarter and half-year for the access services business demonstrates building momentum for fibre services in the face of the pandemic. Anticipated long‑term volume deals may not materialise, but associated competitive pressure may help BT arguments on the need for a ‘fair bet’ from Ofcom.
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Network & Infrastructure
Lowth downplays tower monetisation benefits
BT is continuing to buck the trend of creating TowerCos as it continues to value control over infrastructure assets.
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Financial & Performance
BT cash to take a hit on Brexit and Huexit stockpiling
An improved earnings forecast at BT is not expected to generate more cash as the operator buys up Huawei gear ahead of the 5G ban. Ericsson highlights its own efforts to ensure it can meet BT’s needs in uncertain times ahead.
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Public Affairs
TalkTalk stiffens resistance to Openreach network pricing
Alternative network provider is waging an ongoing war with Openreach over wholesale fees.
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Strategy & Change
BT’s Jansen plays for time on transformation
Eighteen months into the job, the BT CEO is striving to prove the business is on the right track, with a lower‑key transformation than many expected. Jansen urging staff to adopt a “ lean‑in ” approach with faster decision‑making to accompany systemic change.
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Strategy & Change
Green sees ‘correction’ in TV sports rights prices
BT is attempting to turn down the heat on expectations for broadcast sport auctions in a market that has already seen signs of cooling.
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Financial & Performance
Divisional highlights: the value of fibre
Management ready to look at ways to bring out the value of BT’s emerging fibre infrastructure. Beyond the current crisis and recession fears, BT Global advancing down the path to recovery. Sudden freeze of live events underlines the importance of BT Sport to Consumer division financial performance. ...
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Financial & Performance
Numbers: no sport and shut businesses take their toll
While whole Group faces headwinds, Consumer and Enterprise take the brunt of COVID‑19 impact. The “ usual ” working capital payments on top of slumping earnings result in negative cash flow for the quarter.
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Financial & Performance
Spending: capex surge still around the corner
Lockdown slows network rollout, but capex remains on track to ramp up from next year. Existing cost cutting to be coupled with pandemic‑driven spending reviews for additional sustainable savings. New Huawei rules said not to add to BT’s swap‑out burden.
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Financial & Performance
Guidance: what’s the worst that can happen?
Outlook on revenue and EBITDA implies little good news for rest of FY20–21. Earnings growth anticipated in FY21–22, as regulatory headwinds fade and efficiency gains come into play.
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Financial & Performance
BT Group Q1 FY20–21
First full COVID-19 quarter sees a sharp decline in revenue and EBITDA. Outflow of cash as network investment continues. Group CEO Jansen claims mists are clearing, enabling Group to issue guidance for the year — although BT anticipates little improvement until 2021. Openreach progress is ...
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Strategy & Change
BT steps up SME defence as it awaits insolvency tsunami
BT Enterprise’s Q1 FY20–21 performance shows a business briefly hollowed out, and anticipating further blows as it begins its recovery. Small Business Support Scheme is promoting ultrafast vouchers, bursaries and training in the hope of softening the impact of the pandemic recession. DCMS‑backed scheme once again ...
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Financial & Performance
ONS data errors reshape UK telecoms landscape
The Office for National Statistics new methods marks change for the past 20 years’ price decline, but promise more accurate inflation and GDP readings. Change backs telcos’ claims that they are meeting demands of ‘more for less’ in tougher circumstances than assumed.
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Enterprise (B2B)
BT defends role in poor-value NI land registry project
Audit Office critical of Department for Finance in failing to deliver taxpayer value from Land Registry contract, and for not securing sufficient transparency on BT’s slice of the income.
