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Saf Malik
October 31, 2019
Company looking to downsize offices and employee numbers
BT’s financial figures for H1 2019 saw the telecoms giant’s revenue dip one per cent year-on-year as the company looks ahead to a period of change.
Revenue stood at £11.467 billion, with EBITDA at £3.9 billion, down three per cent due to increased spectrum fees, content costs and investment into new products.
CEO Philip Jansen pointed to investments in fibre and 5G rollouts as reasons for the relatively flat performance, and said that the company was still on track to hit its outlook for the year.
Jansen added that Openreach’s FTTP build is passing “a home or business every 26 seconds”. Openreach has also announced a further 29 locations as part of its plan to hit four million premises by March 2021.
“BT delivered results in line with our expectations for the second quarter and first half of the year, and we remain on track
to meet our outlook for the full year”, said Jansen.
“We’ve invested to strengthen our competitive position. We’ve accelerated our 5G and FTTP rollouts, introduced an
enhanced range of product and service initiatives for both consumer and business segments, and announced price and
technology commitments to deliver fair, predictable and competitive pricing for customers.”