BT Group H1 Profit Up 24%; Sees FY18 EBITDA At Upper End Of Range - Quick Facts

(RTTNews) - BT Group plc (BT.L) reported Thursday that its profit before tax for the half year to 30 September 2018 rose 24 percent to 1.34 billion pounds from 1.08 billion pounds in the same period last year. Reported basic earnings per share were 10.6 pence, compared to 8.2 pence in the year-ago period.

The increase in profit was mainly driven by higher volume and mix of high-end smartphones in the company's consumer business and restructuring-related cost savings.

Adjusted EBITDA for the six months rose 2 percent to 3.68 billion pounds from 3.60 billion pounds in the prior-year period. Adjusted basic earnings per share were 13.3 pence compared to 12.7 pence a year ago and IFRS 15 pro forma earnings of 12.8 pence.

Reported revenue for the half year declined 2 percent to 11.59 billion pounds from 11.79 billion pounds last year. Adjusted revenue of 11.62 billion pounds decreased 1 percent, as growth in the company's consumer business was offset by regulated price reductions in Openreach and declines in its enterprise businesses.

Looking ahead to fiscal 2018, BT Group maintained its overall outlook. Based on current trading, it expects EBITDA to be in the upper half of it's previously forecast range of 7.3 billion to 7.4 billion pounds.

The company declared an interim dividend of 4.62 pence per share, 30 percent of last year's full-year dividend of 15.4 pence per share.