BT Group Q1 Pro Forma Adj. EBITDA Rises; Adj. Revenue Up 4%

(RTTNews) - BT Group PLC (BT_A.L, BT) reported first quarter profit before tax of 536 million pounds, up 11% primarily due to EBITDA growth partially offset by specific items. Pro forma adjusted EBITDA was 2.0 billion pounds, up 5% with revenue flow through and cost control more than offsetting cost inflation.

Pro forma adjusted revenue was 5.2 billion pounds, up 4% from last year due to increased fibre-enabled product sales and price increases in Openreach, increased service revenue in Consumer with 2023 annual contractual price rises being aided by higher FTTP base and higher roaming, and improved equipment trading in Business, offset partially by legacy product declines. Reported revenue was up 1%, for the quarter.

The Group reconfirmed all fiscal 2024 outlook metrics.

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