BT Group plc (BT.L) today announced its results for the first quarter to 30 June 2012.
Ian Livingston, Chief Executive, commenting on the results, said:
"We have delivered another quarter of profit growth and the 11th consecutive quarter of double-digit earnings per share growth, although our quarterly cash flow was impacted by the timing of working capital movements. There were good performances in BT Retail, BT Wholesale and Openreach while BT Global Services was impacted by the tough conditions in Europe and the financial services sector.
"Our financial performance allows us to keep investing for the future. Our engineers are rolling out fibre at pace bringing fibre broadband to over 2m more homes and businesses in the quarter and it's now available to over 11m premises. Our investment plans are creating around 2,000 jobs in 2012 by recruiting engineers to support our fibre plans and opening four new UK call centres. We continue to make good progress with our investments in the faster growing economies."
First quarter results:
|
|
|
First quarter to 30 June 2012 £m |
Change |
|
Revenue |
|
4,484 |
(6)% |
|
Underlying revenue excluding transit |
(3.2)% |
||
|
EBITDA |
|
1,463 |
2% |
|
Profit before tax1 |
578 |
8% |
|
|
Earnings per share |
- adjusted |
5.7p |
10% |
|
|
- reported |
5.8p |
16% |
|
Normalised free cash flow |
(124) |
£(325)m |
|
|
Net debt |
|
9,142 |
£557m |
