Aug 2, 2019

BT promises to step up and hold its ground as rivals circle

BT has pledged to fight harder to hold its ground against its rivals after reporting first quarter results that came in slightly ahead of expectations. The telecoms provider said that revenue in the three months through to June fell 1 per cent year-on-year to £5.6bn, while profits before tax dropped to £642m from £704m a year ago due to higher costs. The company reiterated its outlook for the year, but Mr Grindle said problems are brewing in mobile, with average revenue per use diving, and in fixed line where customers could migrate onto new lines built by rivals. Its revenue in the first quarter fell 5 per cent, while order intake fell almost 20 per cent. Ebitda at the division rose 18 per cent due to cost cutting in contrast to a 5 per cent drop at its consumer arm and 3 per cent at its enterprise unit.

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