LONDON (Alliance News) - BT Group PLC Monday reaffirmed its outlook for the full financial year in its current guise, as it reported a rise in pretax profit in its third quarter and year to date and outlined a new organisational structure following its acquisition of mobile network EE Ltd.
For the quarter to end-December the telecommunications and pay-TV company reported a pretax profit of GBP862 million, up from GBP694 million a year before, as revenue rose to GBP4.64 billion from GBP4.48 billion.
This takes BT's results for the first nine months of its financial year to a pretax profit of GBP2.14 billion, up from GBP1.8 billion a year before, on revenue of GBP13.25 billion, up from GBP13.21 billion.
BT said that, following its acquisition of EE, it will have a new organisation structure with effect from April. Under the new structure, it will have six lines of business, Consumer, EE, Business and Public Sector, Global Services, Wholesale and Ventures and Openreach.
The six businesses will be supported by its Technology, Service and Operations division.
BT said the BT Consumer division had a "stand out quarter", helped by good customer growth in broadband, television and mobile, which drove up average revenue per user.
BT continues to expect revenue growth of between 1 and 2% for its full year.
"These are exciting times at BT. We have completed our acquisition of EE, the UK's best mobile network provider, and are confident that we'll deliver the anticipated cost and revenue synergies. EE will become a separate consumer-focused line of business within the group. We're also creating a new organisation to better serve our business and public sector customers in the UK, combining BT Business with EE's business division and parts of BT Global Services' UK operations. BT Global Services will focus on serving multinational companies and major customers outside the UK," said Chief Executive Gavin Patterson in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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BT (BT.A)