BT: revenues down, but targets up

(CercleFinance.com) - BT has reported adjusted revenues of 21.
3 billion euros for FY 2020/2021 to 31 March, down around 6% y-o-y.

Adjusted EBITDA came in at 7.4 billion euros, down 6% relative to FY2019/2020. BT reported post-tax profit of 1.4 billion pounds (down 15%), on adjusted EPS of 18.9p (-20%).

Acknowledging that it had been a tough year, BT's chief executive Philip Jansen nevertheless stressed that the 5G spectrum auction and the government's super tax deduction were a "green light" for BT to build the UK's next generation digital infrastructure "even faster".

BT is thus increasing its fiber rollout target from 20 to 25 million homes and businesses by December 2026, to deliver more value to its shareholders and support the government's fiber ambitions.

He says that BT is now heading for steady and predictable growth.

Investors seem to have hung up however - the share is currently down over 4% in Londoan.


Copyright (c) 2021 CercleFinance.com. All rights reserved.