The BT Group published its latest biannual H1 FY25 results to Sept 2024, which reveals that the company is “firmly on track” to meet long-term cost savings and cash flow targets, and it can confirm EBITDA, capex and cash flow guidance for FY25, albeit on lower revenue guidance.
Thu, 25/07/2024 - 12:50
Openreach’s FTTP network now passes 15 million premises according to its latest trading update.
The incumbent has achieved a record FTTP build of over one million premises passed in the quarter at an average build rate of 78k per week.
Its footprint includes 4.2m rural premises passed and around a further six million where initial build is underway.
Take up on the Openreach network is at 35% with net adds of 387k. Its FTTP customer base surpassed five million during the quarter with orders up 29% year on year.
BT’s overall adjusted revenue was down 2% from Q1 FY24 to £5.1bn due to legacy managed contract declines. EBITDA was up 1% to £2.1bn.
CEO Allison Kirkby said “In Consumer, the widespread availability of FTTP and 5G combined with our new EE propositions has contributed to an improved trend in our customer base.
“In Business, we also saw improved trends, as we continue to modernise our portfolio and our operations towards a simpler business.”
