BT.A Bt Group Plc

   By Adria Calatayud 
 

BT Group PLC (BT.A.LN) said Thursday that pretax profit was broadly flat for the first half of fiscal 2020, and that it is on track to meet its outlook for the full year.

Pretax profit for the half year to Sept. 30 was 1.33 billion pounds ($1.71 billion) compared with GBP1.34 billion in the year-earlier period, although the company's fiscal 2019 results were based on different accounting standards.

Net profit for the half was GBP1.07 billion, the British telecommunications company said.

Revenue was GBP11.47 billion in the first half, the company said. On an underlying basis, revenue fell 1.8% in the half, BT said.

Adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred profit metric, which excludes exceptional items--fell 2.9% to GBP3.92 billion, BT said.

The company had previously guided for underlying revenue to be down 2%, adjusted Ebitda to come in at between GBP7.3 billion and GBP7.4 billion and capital expenditure to be around GBP3.7 billion.

The board kept its interim dividend at 4.62 pence a share, in line with last year and with its guidance for fiscal 2020.

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

(END) Dow Jones Newswires

October 31, 2019 03:28 ET (07:28 GMT)

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