Business
1st Quarter Results
1st Quarter Results.
About this update from Bt Group Plc
[{"type":"text","content":"\n \nRNS Number : 7018H BT Group PLC 02 August 2019 \n\nTrading update\nFirst quarter to 30 June 2019 \nBT Group plc \n2 August 2019\nBT Group plc (BT.L) today announced its trading update for the first quarter to 30 June 2019\nKey strategic developments:\n· EE successfully launched the UK's first 5G mobile network in six cities \n· BT named the UK's major broadband universal service obligation provider by Ofcom\n· 12 successive quarters of improvement in Group NPS1, up 0.3 points\n· Openreach announced updated pricing for wholesale FTTP broadband and the next 36 locations in its FTTP rollout\n· BT welcomes the Government's ambition for full fibre broadband across the country and is ready to play its part to accelerate the pace of rollout\n· Sale of BT Centre agreed for £210m and lease signed for new headquarters in Aldgate, London\nOperational:\n· Openreach continues FTTP rollout at c.20k premises passed per week with 267k premises passed in the quarter; 3.7m ultrafast (FTTP and Gfast) premises passed to date\n· Consumer fixed ARPC £37.9 flat year on year; postpaid mobile ARPC £20.7, down 4.6% on Q1 2018/19 due to the impact of regulation and lower RPI price increases\n· Fixed churn down to 1.3% following customer experience improvements; postpaid mobile churn remains at 1.1%\n· EE first in 15 out of 16 RootMetrics tests for mobile network performance\nFinancial results:\n· Reported and adjusted1 revenue of £5,633m down 1% with decreases in Consumer, Enterprise and Global \n· Adjusted EBITDA1 down 1%2 at £1,958m driven by lower revenues and higher spectrum fees and content costs, partly offset by reduction in costs from restructuring and transformation programmes\n· Reported profit before tax of £642m and adjusted1 profit before tax of £749m, impacted by the higher upfront interest expense on the IFRS 16 lease liabilities recognised from 1 April 2019\n· Normalised free cash flow1 of £323m down 36% reflecting increased capital expenditure and higher interest and tax payments, partially of...