BT Group: investors hang up after H1 results
(CercleFinance.com) - BT Group shares are down 7% in London after the telecoms operator published its H1 2022-23 results, marked by a taxable profit down 18% to 800 million pounds and adjusted EBITDA that is up 3% to 3.
9 billion pounds.
The UK group said that cost inflation, particularly for energy, partly offset a 1% growth in revenue to 10.4 billion pounds, driven by its consumer business and Openreach.
Given the current inflationary environment, the company says that it needs to take further action on costs, therefore raising its savings target from £2.5bn to £3bn by the end of 2024-25.
Copyright (c) 2022 CercleFinance.com. All rights reserved.