Business
Trading Update for the 3 months to 30 June 2022
Trading Update for the 3 months to 30 June 2022.
About this update from Bt Group Plc
[{"type":"text","content":"\n \n \n Trading update for the three months to 30 June 2022\n \n \n BT Group plc\n \n \n 28 July 2022\n \n \n \n \n \n \n Philip Jansen, Chief Executive, commenting on the results, said\n \n \n \"BT Group has made a good start to the year; we're accelerating our network investments and performing well operationally. Despite ongoing challenges in our enterprise businesses, we returned to revenue and EBITDA growth in the quarter.\n \n \n \n \n \n \"We continued to grow the number of BT and EE customers connected to our next generation networks. We're building our full fibre broadband network faster than ever and we're seeing record customer connections - both ahead of our own expectations. Openreach's full fibre network now reaches over 8 million homes and businesses across the UK and we anticipate increasing our annual build from 2.6 million premises last year to around 3.5 million this year. EE's 5G network covers more than 55% of the country's population. We're achieving continued high customer satisfaction scores thanks to our much improved customer service and the value for money that our products and services represent.\n \n \n \n \n \n \"The modernisation of BT Group remains on track. We are delivering and notwithstanding the current economic uncertainty we remain confident in our outlook for this financial year.\"\n \n \n \n \n \n \n \n Key strategic developments:\n \n \n \n • Fibre build and connection continues at pace, beyond our expectations, with record quarterly FTTP build of 763k and net adds of 302k\n \n \n • Finalised our FTTP co-provisioning agreement with Sky\n \n \n • EE was voted best network by RootMetrics for the ninth year running and came top in every category measured; our 5G ready base is now at 7.7m\n \n \n • Price rises to support investment in the network and offset cost inflation; we have continued to raise awareness of our Home Essentials social tariff with prices frozen this year\n \n \n • Consumer churn and complaints remain low with high levels of service\n \n \n • BT Sport remains home of UEFA club competitions, including the UEFA Champions League, until 2027\n \n \n • The CMA1 approved the BT Group plc agreement with Warner Bros. Discovery, Inc. to form a 50:50 sports broadcasting joint venture\n \n \n • Contingenc...