Business
BT revises financials for internal reorganisation
BT revises financials for internal reorganisation.
About this update from Bt Group Plc
[{"type":"text","content":"\n \nRNS Number : 5652C BT Group PLC 29 June 2016 \n\n \n\n\n\n\n \n\n\n29 June 2016\n \n\n\n\n\nBT PROVIDES REVISED FINANCIAL INFORMATION\nREFLECTING ORGANISATIONAL CHANGES\nBT Group has today published revised financial information to reflect organisational changes that came into effect on 1 April 2016.\nPreviously, our six customer-facing lines of business were BT Global Services, BT Business, BT Consumer, EE, BT Wholesale and Openreach (EE Limited1 having been acquired by the group on 29 January 2016). As announced on 1 February 2016, with effect from 1 April 2016, we've reorganised the group and our customer-facing lines of business are now: Global Services, Business and Public Sector, Consumer, EE, Wholesale and Ventures, and Openreach.\nWe've brought together EE's business division and parts of BT Global Services' UK corporate and public sector operations with BT Business, to form Business and Public Sector. This move allows Global Services to sharpen its focus on serving multinational companies and major customers outside the UK. And Business and Public Sector is better able to align its resources to improve customer service and delivery, adopting a more regional and forensic approach to serving the UK public sector. \nAlongside these changes, EE's MVNO operations and a number of specialist ventures within the group (including Fleet, Redcare, Directories, Payphones, Tikit and Cables) have moved into Wholesale and Ventures. This gives more visibility to the smaller but important enterprises while bringing together the group's wholesale businesses. In addition, EE's technology team is now the mobile technology unit of our internal service unit, Technology, Service and Operations.\nAt the same time, we've taken steps to simplify our internal trading model, including moving to a cost-recovery model for certain intra-group revenues. Neither the organisational or internal trading changes have any impact on the total group results.\nWe show the financial impact and restated financial information, prepared on a consistent basis, for the years ended 31 March 2016 and 31 March 2015 in Appendix 1. We'll present our financial results and updated KPI document for the first quarter to 30 June 2016 (which we...