Business
BT ANNOUNCES IFRS 15 IMPACT WITH OUTLOOK UNCHANGED
BT ANNOUNCES IFRS 15 IMPACT WITH OUTLOOK UNCHANGED.
About this update from Bt Group Plc
[{"type":"text","content":"\n \nRNS Number : 4921S BT Group PLC 25 June 2018 \n\n 25 June 2018\n \nBT PROVIDES IFRS 15 AND NEW KPI PRO FORMA HISTORICAL DISCLOSURES AND CONFIRMS UNCHANGED OUTLOOK FOR 2018/19 UNDER IFRS 15\n \n· Pro forma financials for 2016/17 and 2017/18 reflect the adoption of the IFRS 15 accounting standard\n· Refreshed financial and operational key performance indicators provided for 2016/17 and 2017/18, to improve visibility of the drivers of BT's operational performance\n· Compared with IAS 18, BT expects the IFRS 15 accounting change to have an adverse impact on 2018/19 revenue in the high tens of millions of pounds and an adverse impact on 2018/19 EBITDA in the low tens of millions of pounds, with no impact on cash flow\n· BT's outlook for 2018/19 including the impact of IFRS 15 remains unchanged\n \nBT Group has today published pro forma financials to reflect the adoption of the IFRS 15 accounting standard that came into effect for BT from 1 April 2018. The pro forma financials are unaudited and provide an indicative historical impact of IFRS 15. BT has also translated the outlook for 2018/19 from the previously used IAS 18 accounting standard to IFRS 15, and confirmed there is no change.\n \nIn addition, BT has refreshed the financial and operational key perfor...