BT Group H1 Adj. EBITDA Improves; Adj. Revenue Down 3% - Quick Facts

(RTTNews) - BT Group PLC (BT_A.L, BT) reported that its first half profit before tax declined 5%, primarily due to higher finance expenses partly offset by increased EBITDA. Adjusted revenue was down 3%. Adjusted EBITDA improved 1%, with revenue decline more than offset by lower costs from transformation programmes and tight cost management, and lower indirect commissions. Looking forward, the Group said it is on track, and confirmed financial outlook for fiscal 2022 and fiscal 2023.

For the half year to 30 September 2021, profit before tax declined to 1.01 billion pounds from 1.06 billion pounds, prior year. Earnings per share was 4.2 pence compared to 8.5 pence. Adjusted EBITDA was 3.75 billion pounds, an increase of 1 percent. Adjusted earnings per share was 10.0 pence compared to 9.4 pence.

Revenue was 10.30 billion pounds, down 3 percent from last year. Adjusted revenue was 10.31 billion pounds, down 3 percent.

The Group declared an interim dividend of 2.31 pence per share.