Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

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BT Group PLC (BT.A)

  Print      Mail a friend       Annual reports

Wednesday 25 July, 2012

BT Group PLC

1st Quarter Results

RNS Number : 4211I
BT Group PLC
25 July 2012
 



 

 

 

 

 

25 July 2012

BT GROUP PLC

 

 

 

RESULTS FOR THE FIRST QUARTER TO 30 JUNE 2012

 

 

 

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)%

EBITDA1

 

1,463  

2%

Profit before tax1

 

578  

8%

Earnings per share

- adjusted1

5.7p

10%

 

- reported

5.8p

16%

Normalised free cash flow2

(124) 

£(325)m

Net debt

 

9,142  

£557m

  

 

1 Before specific items

2 Before specific items, pension deficit payments and the cash tax benefit of pension deficit payments

 


RESULTS FOR THE FIRST QUARTER TO 30 JUNE 2012

 

Group results


First quarter to 30 June


2012  

2011    

Change


£m  

£m    

%

Revenue

4,484  

4,764    

(6)

- underlying revenue excluding transit1

 


(3.2)

EBITDA




- adjusted2

1,463  

1,436    

2

- reported

1,461  

1,370    

7

Operating profit




- adjusted2

740  

697    

6

- reported

738  

631    

17

Profit before tax




- adjusted2

578  

533    

8

- reported

584  

517    

13

Earnings per share




- adjusted2

5.7p

5.2p

10

- reported

5.8p

5.0p

16

Capital expenditure

622  

582    

7

Free cash flow




- normalised3

(124) 

201    

n/m

- adjusted2

38  

308    

(88)

Net debt

9,142  

8,585    

6

 

Line of business results2


Revenue

EBITDA

Operating cash flow

First quarter to 30 June

2012

2011

Change

2012

2011

Change

2012

2011

Change


£m

£m

%

£m

£m

%

£m

£m

%

BT Global Services

1,730

1,905

(9)

119

138

(14)

(315)

(60)

n/m

BT Retail

1,776

1,830

(3)

476

446

7

247

294

(16)

BT Wholesale

923

1,004

(8)

300

307

(2)

129

119

8

Openreach

1,257

1,255

0

553

538

3

209

177

18

Other and intra-group items

(1,202)

(1,230)

2

15

7

n/m

(232)

(222)

(5)

Total

4,484

4,764

(6)

1,463

1,436

2

38

308

(88)

 

1 Underlying revenue excluding transit is defined below

2 Before specific items. Specific items are defined below

3 Before specific items, pension deficit payments and the cash tax benefit of pension deficit payments

n/m = not meaningful



 

Notes:

 

1)   Unless otherwise stated, any reference to revenue, earnings before interest, tax, depreciation and amortisation (EBITDA), operating profit, operating costs, profit before tax, earnings per share (EPS) and free cash flow are measured before specific items. The commentary focuses on the trading results on an adjusted basis being before specific items. This is consistent with the way that financial performance is measured by management and is reported to the Board and the Operating Committee and assists in providing a meaningful analysis of the trading results of the group. The directors believe that presentation of the group's results in this way is relevant to the understanding of the group's financial performance as specific items are those that in management's judgement need to be disclosed by virtue of their size, nature or incidence. In determining whether an event or transaction is specific, management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence. Specific items may not be comparable to similarly titled measures used by other companies. Reported revenue, reported EBITDA, reported operating profit, reported profit before tax, reported EPS and reported free cash flow are the equivalent unadjusted or statutory measures.

 

2)   Underlying revenue, underlying costs and underlying EBITDA are measures which seek to reflect the underlying performance of the group that will contribute to long-term profitable growth and as such exclude the impact of acquisitions and disposals, foreign exchange movements and any specific items. We are focusing on the trends in underlying revenue excluding transit revenue as transit traffic is low-margin and is significantly affected by reductions in mobile termination rates.

 

3)   Unless otherwise stated, the references 2011, 2012, 2013, 2014 and 2015 are the financial years to 31 March 2011, 2012, 2013, 2014 and 2015, respectively, except in relation to our fibre roll-out plans and job creation and recruitment plans which are based on calendar years.

 

Enquiries

 

Press office:

Ross Cook                                                                                Tel: 020 7356 5369

 

Investor relations:

Catherine Nash                                                                          Tel: 020 7356 4909

 

 

A conference call for analysts and investors will be held at 9.00am today and a simultaneous webcast will be available at www.bt.com/results

 

The second quarter and half year results for 2013 are expected to be announced on Thursday 1 November 2012.

 

About BT

 

BT is one of the world's leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach.

 

In the year ended 31 March 2012, BT Group's revenue was £18,897m with profit before taxation of £2,445m.

 

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. 

 

For more information, visit www.btplc.com

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/4211I_-2012-7-24.pdf

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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