BT Financial & Performance – Page 11
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Public AffairsLabour promises nationalised free broadband for all — BTwatch’s first take
Considerable speculation and debate on the future of UK communications infrastructure and the sector was sparked by a new Labour Party policy. In its Manifesto for the upcoming UK General Election, Labour is committing to the nationalisation of major elements of BT Group that relate to the provision of ...
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PremiumBT Group financial reports roundup, October 2019
Credit Suisse reiterated its “outperform” rating for BT Group. Woodford Equity Fund reported that it had acquired a 1.4% stake in BT Group. Berenberg noted the low valuation on BT Group, based on its current share price. Group CEO Jansen bought 584,000 shares in the telco during mid-September 2019. ...
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PremiumBT Group glad-hands investors as share pressure remains
While revised strategy plans for the UK were still bubbling, BT faced a tricky summer with a dwindling share price and investor concerns over operational challenges.
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PremiumBT Group fined for regulatory accounts errors
BT Group was ordered to pay £3.7m by regulator Ofcom as a result of errors in its regulatory accounts for the years 2011-15. The errors had led to the telco paying lower administration fees between 2011 and 2015.
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PremiumBT Group denied appeal permission by the UK Supreme Court
The UK Supreme Court denied BT Group permission to appeal an earlier ruling from the country’s Court of Appeal that prevented the telco from swapping the inflationary measure used in relation to a legacy tranche of its pension liabilities (BTwatch, #301).
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PremiumBT Group ready to take Johnson’s fibre call at face value
On the Q1 FY19-20 call, BT management regularly reiterated its willingness to support apparent ambition within the new Johnson government for complete UK full-fibre coverage by 2025. The open embrace did, though, have the feel of calling a bluff that almost, but never quite, tipped over into sarcasm.
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PremiumBT Group management update: Q1 FY19-20
Fewer positive indicators for the Group as competition weighs on Consumer, but signs that business-focused divisions are building momentum. Jansen already straining at the confines of existing BT strategy, and promises more aggressive stance in retail sectors. Allera’s more-for-more focus under pressure with fibre price-cuts, delays in bundling Sky ...
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PremiumBT Technology a big spender, but keen on getting value
Divisional Chief Financial Officer John Beswick noted the spending power of BT Technology, with the entity accountable for £1.6bn of the £19bn that the Group spends in total on operating expenditure (opex) in the UK.
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PremiumUK government increases funding in quantum technologies
The UK government announced £94m in funding for the National Quantum Technologies Programme.
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Public AffairsNAO signals headwinds for ESN
New report from the National Audit Office (NAO) highlights further risks with the Emergency Services Network (ESN), but BT/EE on track. The Home Office subsequently extended the ESN contract with Motorola Solutions to include the Kodiak push-to-talk (PTT) product for critical communications with front-line staff.
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PremiumBT consumer plans to increase prices
The media widely flagged BT Consumer plans to increase prices for its BT TV and BT Sport services by up to 67% from the end of July 2019.
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PremiumBT Group management update: FY18-19
The results marked Jansen’s major public bow as head of the Group. New CEO was frank on the challenges facing BT, and equally honest in recognising no easy answers. Another year of falling revenue and EBITDA framed as a managed retreat in non-strategic areas, and in line with transformation ...
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PremiumDivisional breakdown: BT Consumer still doing the heavy lifting
On a division-by-division basis, FY18-19 proved tough across the Group. Consumer again was the principal element of the business in which key financial metrics remain solely in the black. However, there are signs that trends are changing, and, while the headwinds that have beset Enterprise and Global Services may ...
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PremiumBT Group’s FY19–20 guidance: going down, but preparing to go up
BT’s plans to accelerate transformation, and push ahead with fibre rollout while improving customer experience, expected to impact its guidance for the 2019-20 financial year. Adjusted revenue expected to record a 2% drop for the year, with regulatory pressure and more competitive markets cited as key causes, alongside the ...
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PremiumBT Group confirmed agreement to sell headquarters in St Paul’s, London
BT Group confirmed that it has agreed the £209.5m sale of its headquarters (HQ) building in St Paul’s, London.
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PremiumBT steps back on ultrafast target, promises leap forward
BT’s FY20-21 ultrafast rollout target down to ten million from twelve million, but full fibre to the fore. Government distaste for G.fast appears a crucial element of BT’s decision.
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Strategy & ChangeJansen pitches share ownership to shift BT Group culture
A new scheme aims to award £500-a-year in shares to each of the Group’s 100,000 employees, as Jansen encourages cultural change at BT.
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PremiumBT Group’s strategy expectations outlined in 2019’s AGM
BT’s next-generation networks and internal transformation goals discussed.
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PremiumGovernment releases £40m more for 5G trials
Latest £40m for 5G use case development applied to logistics and manufacturing. DCMS also flags promises of simpler planning, and more spectrum, although plans remain vague. Operators still waiting for clarity on government’s 5G supplier review.
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PremiumMany potential buyers for BT Ireland
A number of companies are considering bidding for BT Ireland after the unit was recently put up for sale, according to reports, with indications that the process has moved beyond first-round bids. The business was said to have been put up for sale at €400m (£358m), although sources expect ...