BT 6M revenues dip 3% to GBP10.3bn; telco claims 5.279 million ‘5G-ready’ subscriptions

5 Nov 2021

BT Group has reported revenues of GBP10.305 billion (USD14.0 billion) for the six months ended 30 September 2021, down 3% from GBP10.590 billion year-on-year, driven by declines in its Enterprise and Global divisions. Profit before tax for the period under review dropped 5%, from GBP1.062 billion to GBP1.009 billion, while the telco’s net debt at 30 September stood at GBP18.241 billion.

BT notes that its 5G mobile network now covers over 40% of the UK’s population, while 5.279 million subscriptions are classified as ‘5G-ready’, compared to just 1.233 million one year earlier. Elsewhere, BT claimed a total of 945,000 fibre-to-the-premises (FTTP) subscriptions via its Consumer division.

BT CEO Philip Jansen commented: ‘These results demonstrate an acceleration of pace in the transformation of BT. We are creating a better BT for our customers, the country and our shareholders … After a record six months, Openreach has now rolled out full fibre broadband to almost six million premises and continues to lower its build cost. Its three largest customers are signed up to the new pricing offer as we see rapid adoption of what will be the UK’s first nationwide full fibre network, spanning 25 million premises by 2026.’

United Kingdom, BT Group (incl. Openreach), EE