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Share Price Information for BT (BT.A)

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Share Price: 128.00
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BT hits full year earnings target thanks to cost cutting in fourth quarter

Thu, 07th May 2015 07:08

Annual results from BT Group beat City forecasts as the UK telecoms giant added a record number of new broadband customers in the fourth quarter.Adjusted earnings before interest, tax, depreciation and amortisation rose 7% in the fourth quarter to £1.79%, ahead of forecasts and producing EBITDA of £6.27bn for the full year, up 3% on the previous year and marginally ahead of market forecasts of £6.2bn.This was despite a slightly weak sales performance in the fourth quarter with a 2% decline in reported revenues to £4.6bn, 1.5% below consensus forecasts, which also led to a 2% fall for the year as a whole to £17.85bn.However, adjusted profit before tax rose 14% in the final three months of the year as underlying operating costs were cut by 6% as BT claimed its best ever quarter for Openreach fibre broadband net connections of 455,000, up 31%, with consumer fibre additions hitting a record 266,000.Adjusted earnings per share rose 11% in the fourth quarter, to help generate a full-year increase of 12% to 31.5p.Normalised free cash flow rose 16% to £2.83bn, which was 5% ahead of the consensus estimate, with the dividend raised 14% to 12.4p."It's been a ground-breaking year for BT, in which we've made some key decisions and announced some major investments to underpin the future growth of the business," said chief executive Gavin Patterson. "Profit before tax and free cash flow have both grown strongly and we have delivered or beaten the outlook we set at the start of the year."He noted that the superfast Openreach broadband network, which regulator Ofcom is poised to begin a review into, now passes more than three-quarters of the UK and there are plans to upgrade to ultrafast."This will be another multi-year investment by Openreach and is the right thing for both BT and the UK, providing even faster speeds in an already competitive market."On the outlook for 2015/16, Patterson and his team continue to expect growth in underlying revenue and modest growth in adjusted EBITDA despite extra year-on-year costs of around £170m plus costs relating to the launch of its UEFA Champions League and UEFA Europa League television content in the year.With normalised free cash flow expected to be largely flat, the 2016 dividend is guided as 'up 10-15%' with a circa £300m, share buyback.Societe Generale noted free cash flow guidance was 4% above current consensus and highlighted a "solid" performance from key performance indicators (KPIs), with fibre now representing 39% of the baseNomura remained bullish on BT's fibre broadband story and was also heartened by the group's emerging "cashflow potential", saying that there could be "significant further upside" to FCF growth if BT can normalise its working capital position - "confirming our view that post EE, BT will generate more cashflow than its UK rival Vodafone".
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IN BRIEF: BT confirms February start date for new CEO Kirkby

BT Group PLC - London-based telecommunications provider - Confirms Independent Non-Executive Director Allison Kirkby will succeed Philip Jansen as chief executive officer from February 1. She was named successor in July, with previous communication being that she would take over from Jansen around the end of this month at the latest. Jansen will be available to support the handover until the end of March, when BT's financial year 2024 ends.

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2 Jan 2024 16:58

LONDON MARKET CLOSE: Stocks down amid disappointing manufacturing data

(Alliance News) - Stock prices in London closed lower on Tuesday, after the year was started with some disappointing data about the UK and US manufacturing sectors.

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2 Jan 2024 12:01

LONDON MARKET MIDDAY: London stocks make largely soft start to 2024

(Alliance News) - Stock prices in London were mostly lower at midday on Tuesday in a slow start to the new year, reacting to the UK manufacturing sector finishing a tricky 2023 with a further contraction in December.

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2 Jan 2024 08:48

LONDON MARKET OPEN: New Year begins largely green amid slew of PMIs

(Alliance News) - Stock prices in London opened mostly up on Tuesday, the first day of trading in 2024, reacting to slightly improved factory activity in China, with more manufacturing PMIs from major economies due.

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2 Jan 2024 08:36

PRESS: Outgoing BT boss Jansen approached about being next WPP chair

(Alliance News) - WPP PLC has approached outgoing BT Group PLC chief Philip Jansen about becoming the advertising firm's next chair, Sky News reported on Monday.

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2 Jan 2024 07:57

LONDON BRIEFING: AstraZeneca, Sanofi's RSV treatment approved in China

(Alliance News) - Stock prices in London are expected to open higher on Tuesday, reacting to a slight expansion in manufacturing activity in China and ahead of a slew of manufacturing PMI data including for the UK.

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1 Jan 2024 21:35

BT chief Jansen approached about WPP chairmanship - Sky News

Jan 1 (Reuters) - BT Group's outgoing boss Philip Jansen has been approached about becoming the next chair of advertising group WPP, replacing Roberto Quarta, Sky News reported on Monday.

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1 Jan 2024 17:22

BT chief Jansen approached about WPP chairmanship - Sky News

Jan 1 (Reuters) - Philip Jansen, the outgoing BT Group boss, has been approached about becoming the next chairman of advertising group WPP, Sky News reported on Monday.

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28 Dec 2023 17:21

UK stocks subdued in thin holiday trade

FTSE 100, FTSE 250 flat

*

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28 Dec 2023 12:27

London midday: Stocks reverse gains to turn lower at lunchtime

(Sharecast News) - London's stock markets had turned negative by lunchtime on Thursday, reflecting a subdued trading environment during the typically quiet period between Christmas and New Year.

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28 Dec 2023 09:02

LONDON MARKET OPEN: China-exposed firms rise as stocks drift higher

(Alliance News) - Stock prices in London opened slightly higher on Thursday, with investors feeling quietly optimistic on the penultimate day of trading for 2023.

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Lapsus$ hacker who targeted Uber and Grand Theft Auto maker indefinitely detained

LONDON, Dec 21 (Reuters) - A teenage member of the Lapsus$ hacking group was on Thursday sentenced to indefinite detention in hospital for hacking Uber and fintech firm Revolut, and for blackmailing the developers of best-selling video game "Grand Theft Auto".

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21 Dec 2023 16:03

London close: Stocks finish weaker amid uninspiring data

(Sharecast News) - London's stock markets ended the day in negative territory on Thursday, despite a rebound on Wall Street in early trading, as investors digested lacklustre government borrowing and retail sales data.

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21 Dec 2023 15:43

UK dividends calendar - next 7 days

Friday 22 December 
BlackRock World Mining Trust PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Investec PLC and Ltddividend payment date
Ninety One PLC and Ltddividend payment date
Record PLCdividend payment date
Schroder Real Estate Investment Trust Ltddividend payment date
SDCL Energy Efficiency Income Trust PLCdividend payment date
Tristel PLCdividend payment date
Monday 25 December 
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Tuesday 26 December 
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Wednesday 27 December 
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Thursday 28 December 
Babcock International Group PLCdividend payment date
BT Group PLCex-dividend payment date
Cerillion PLCex-dividend payment date
Develop North PLCdividend payment date
Focusrite PLCex-dividend payment date
Gore Street Energy Storage Fund PLCex-dividend payment date
Grainger PLCex-dividend payment date
Jet2 PLCex-dividend payment date
JPMorgan European Discovery Trust PLCex-dividend payment date
Lowland Investment Co PLCex-dividend payment date
North American Income Trust PLCex-dividend payment date
Schroder AsiaPacific Fund PLCex-dividend payment date
Schroder European Real Estate Investment Trust PLCex-dividend payment date
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Troy Income & Growth Trust PLCex-dividend payment date
Ultimate Products PLCex-dividend payment date
Value & Indexed Property Income Trust PLCex-dividend payment date
  
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