Half year results for BT Group published

Half year results for BT Group published

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BT Group Half Year Financial Results 2023: Revenue ⁤Growth and ‍Digital Transformation Progress

BT Group, Britain’s‍ leading telecommunications company, has released its financial results for ⁣the first half of the 2023/24 fiscal year. ‌The report highlights significant ​progress in the company’s modernization strategy ⁤and network deployment initiatives, alongside stable financial performance in a challenging‍ market environment.

Key Financial Highlights

Metric H1 2023/24 Result Year-on-Year ‍Change
Revenue £10.4 billion +3%
EBITDA £3.9 billion +1%
Capital Expenditure £2.6 billion -2%

Operational ⁤Performance

The ‌company reported substantial progress in its⁣ fibre broadband rollout program:
• Reached ​11.5 million premises with full fibre connectivity
• Added 330,000 new FTTP customers during⁢ the period
• Achieved 38% consumer fibre base penetration

Strategic ⁢Initiatives

BT Group continues to​ advance its ​strategic transformation:
• Digital ⁢modernization program delivering cost savings
Network optimization and legacy system retirement on track
• Enhanced mobile coverage through EE network expansion

Market⁤ Position and Future Outlook

The Group maintains its market leadership position:
• Strong performance in enterprise segment
• Growing consumer⁣ broadband market share
• On track to meet​ full-year financial guidance

Network Infrastructure‌ Development

Significant progress in network enhancement:
5G network coverage expansion reaching 68% of UK population
•⁢ Rural ⁣connectivity improvements through Shared Rural ⁤Network programme
•⁣ Continued ‌investment in network security and⁣ resilience

Financial Management

The company demonstrated ⁣robust financial management:
• Maintained stable ‌cash flow generation
• Cost reduction⁢ initiatives ⁢delivering results
• Pension deficit management progressing​ as‌ planned

Corporate Governance Updates

Key⁣ governance ‍developments include:
• Progress​ on ESG initiatives
• Enhanced cybersecurity measures
• ‍Strengthened ⁣regulatory compliance frameworks

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