BT BT Group PLC

   By Adria Calatayud 
 

BT Group PLC (BT.A.LN) said Friday that profit rose 25% while revenue fell 6% in the third quarter, slightly missing consensus forecasts.

Pretax profit was 660 million pounds ($939 million) in the three months ended Dec. 31 compared with GBP526 million a year earlier. Analysts expected third-quarter pretax profit of GBP661 million, according to a consensus estimate provided by the company.

Revenue fell to GBP5.97 billion from GBP6.13 billion, BT said. This compares with a consensus forecast of GBP6.06 billion.

Adjusted earnings before interest, taxes, depreciation and amortization--which strips out exceptional and other one-off items and is a closely-watched figure by the company--totaled GBP1.83 billion compared with GBP1.87 billion a year earlier, the telecommunications company said. Analysts estimated an adjusted Ebitda of GBP1.84 billion.

BT confirmed its guidance for the current fiscal year and said it was confident in meeting its targets after a third-quarter performance broadly in line with its expectations. BT added that its transformation program and restructuring initiatives are on track.

The company said full-year underlying revenue--at constant currency and excluding disposals and specific items--will likely be flat while adjusted Ebitda is expected at GBP7.5 billion-GBP7.6 billion and free cash flow is expected at GBP2.7 billion-GBP2.9 billion.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

February 02, 2018 02:49 ET (07:49 GMT)

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