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(Alliance News) - BT Group PLC on Wednesday said it expects IFRS 16 accounting standard to have a positive impact on its financial 2020 earnings, with no impact on revenue or cash flow.
The company expects its adjusted earnings before interest, taxes, depreciation, and amortization for the year to the end of March 2020 to come in at between GBP7.9 billion and GBP8.0 billion due to the adoption of IFRS 16, the new leases accounting standard. Previously, it guided adjusted Ebitda between GBP7.2 billion and GBP7.3 billion.
The FTSE 100-listed telecommunications firm also has restated its adjusted Ebitda for 2019 financial to GBP8.1 billion from GBP7.4 billion due to the operating lease expense replaced by interest expense and depreciation. Net debt for 2019 financial has been amended to between GBP16.6 billion and GBP17.6 billion from GBP11.0 billion previously.
BT shares were trading 1.3% higher on Wednesday in London at 199.52 pence each.
