BT Group pre-tax profits up 15 per cent

BT Group has reported its results for the nine months to 31 December 2023, with profit before tax up 15 per cent to £1,498 million.

Allison Kirkby, who took the reins as chief executive today, commented on the results. She said, “BT Group has delivered another quarter of revenue and EBITDA growth, while rapidly building and upgrading customers to our full fibre broadband and 5G networks, and we continue to be on track to achieve our financial outlook for the year.

“We are providing great digital connectivity and services, while laying the foundations for future growth that will benefit our customers, investors and the UK.  As I assume the role of chief executive, we remain committed to our purpose and our strategic focus, and I am looking forward to leading BT Group into its next phase of development.”

The company said its FTTP build rate reached 73,000 per week to deliver 950,000 premises passed in the quarter. BT Group’s FTTP footprint has now expanded to 13 million premises with a further 6 million where initial build is underway. Take-up is now at 34 per cent, with 4.4 million premises now connected.

Openreach broadband ARPU grew by 10 per cent year-on-year due to price rises and increased volumes of FTTP. Openreach broadband lines losses of 369,000 year to date, a 2 per cent decline in the broadband base.

The company added that ongoing weak broadband market conditions mean broadband line losses will exceed 400,000 in FY24.