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”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

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.

COOKIES

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;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

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

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

BT Group PLC (BT.A)

  Print      Mail a friend       Annual reports

Thursday 31 July, 2014

BT Group PLC

1st Quarter Results

RNS Number : 8052N
BT Group PLC
31 July 2014
 



 

 

31 July 2014

 

BT GROUP PLC

 

RESULTS FOR THE FIRST QUARTER TO 30 JUNE 2014

 

BT Group plc (BT.L) today announced its results for the first quarter to 30 June 2014.

 



First quarter to 30 June 2014



£m

Change

Revenue1


4,354

(2)%

Underlying revenue2 excluding transit


0.5%

EBITDA1


1,435

0%

Profit before tax

- adjusted1

638

7%


- reported

546

22%

Earnings per share

- adjusted1

6.5p

10%


- reported

5.6p

27%

Normalised free cash flow3


122

£182m

Net debt


7,079

£(979)m

 

 

Gavin Patterson, Chief Executive, commenting on the results, said:

 

"We have made a good start to the year.  We have delivered growth in underlying revenue excluding transit and in profit before tax, and free cash flow was strong.

 

"Our fibre broadband network now covers more than twenty million premises.  We are passing over 70,000 additional premises each week and demand is strong with more than three million already signed up.  We have announced a further 2,500 new jobs in recent months to support our strategic investments in fibre and customer service.

 

"I'm excited by the launch of BT One Phone for the business market as well as our other mobility plans.  We'll say more on these later this financial year.  The second season of BT Sport is about to start with a great line-up of content and it will continue to be free with BT Broadband.  We are building on solid foundations and I am confident we will deliver on our strategy."

 

 

Key points for the first quarter:

·      Underlying revenue excluding transit up 0.5%

·      Cost transformation running at a similar pace to last financial year; underlying operating costs4 excluding transit and  BT Sport down 3%

·      EBITDA1 flat and earnings per share1 up 10%

·      BT Global Services and BT Business both grew EBITDA despite lower revenue

·      Our outlook remains unchanged

 

  

1 Before specific items.  Specific items are defined on page 3

2 Excludes specific items, foreign exchange movements and the effect of acquisitions and disposals

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

4 Excludes specific items, foreign exchange movements and the effect of acquisitions and disposals, and is before depreciation and amortisation


GROUP RESULTS FOR THE FIRST QUARTER TO 30 JUNE 2014

 


First quarter to 30 June


2014

2013

Change


£m

£m

%

Revenue




- adjusted1

4,354

4,449

(2)

- reported

4,354

4,449

(2)

- underlying revenue excluding transit



0.5

EBITDA




- adjusted1

1,435

1,440

0

- reported

1,391

1,356

3

Operating profit




- adjusted1

783

743

5

- reported

739

659

12

Profit before tax




- adjusted1

638

595

7

- reported

546

449

22

Earnings per share




- adjusted1

6.5p

5.9p

10

- reported

5.6p

4.4p

27

Capital expenditure2

516

596

(13)

Normalised free cash flow3

122

(60)

n/m

Net debt

7,079

8,058

£(979)m

 

 

Line of business results1


Revenue

EBITDA

Free cash flow3

First quarter to 30 June

2014

20134

Change

2014

20134

Change

2014

20134

Change


£m

£m

%

£m

£m

%

£m

£m

%

BT Global Services

1,647

1,752

(6)

213

210

1

(337)

(262)

(29)

BT Business

762

785

(3)

240

236

2

190

109

74

BT Consumer

1,046

950

10

238

231

3

227

146

55

BT Wholesale

525

638

(18)

126

157

(20)

11

(31)

n/m

Openreach

1,245

1,245

0

624

605

3

298

269

11

Other and intra-group items

(871)

(921)

5

(6)

1

n/m

(267)

(291)

8

Total

4,354

4,449

(2)

1,435

1,440

0

122

(60)

n/m

 

1 Before specific items 

2 Before purchases of telecommunications licences

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

4 Certain results have been restated.  See Note 1 to the condensed consolidated financial statements

 

 

Notes:

 

1.    The commentary focuses on the trading results on an adjusted basis, which is a non-GAAP measure, being before specific items.  Unless otherwise stated, revenue, operating costs, earnings before interest, tax, depreciation and amortisation (EBITDA), operating profit, profit before tax, net finance expense, earnings per share (EPS) and normalised free cash flow are measured before specific items.  This is consistent with the way that financial performance is measured by management and 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 with similarly titled measures used by other companies.  Reported revenue, reported operating costs, reported EBITDA, reported operating profit, reported profit before tax, reported net finance expense, reported EPS and reported free cash flow are the equivalent unadjusted or statutory measures. 

 

2.    Trends in underlying revenue, trends in underlying operating costs, and underlying EBITDA are non-GAAP 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 focus on the trends in underlying revenue and underlying operating costs excluding transit as transit traffic is low-margin and is significantly affected by reductions in mobile termination rates.

 

 

 

Enquiries

 

Press office:

Ross Cook                                                                                Tel: 020 7356 5369

 

Investor relations:

Damien Maltarp                                                                         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 2014/15 are expected to be announced on Thursday 30 October 2014.

 

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 five customer-facing lines of business: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach.

 

For the year ended 31 March 2014, BT Group's reported revenue was £18,287m with reported profit before taxation of £2,312m.

 

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/8052N_-2014-7-30.pdf

 

 

 

 

 

 

 

 

 

 


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