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BT Group has released its financial results for the year ending March, revealing a decline in underlying revenues alongside an increase in profits. The telecom giant's revenues fell by 4% to £19.65 billion, with UK service revenues down 1%, despite recent price hikes. However, pre-tax profits rose by 8%, reaching £1.44 billion.
Looking ahead, BT has forecasted a further revenue drop for the next year, estimating figures between £19 billion and £19.5 billion. Earnings are projected to rise slightly, between £8.2 billion and £8.3 billion. Notably, the company reported a smaller-than-expected loss of customers, with a decrease of 825,000 across its Openreach network, compared to analyst predictions of 844,000.
In a bid to reassure investors, BT announced plans to increase its dividend by a low to mid-single-digit percentage in the current financial year. Additionally, the company is expanding its cost-cutting initiative, aiming to save £3.7 billion by 2030, up from an earlier target of £3 billion by 2029.
Despite these measures, BT's shares fell by 1.5% in early trading, reflecting investor concerns over the ongoing revenue pressures.
Source: www.theguardian.com – https://www.theguardian.com/business/live/2026/may/21/nvidia-beats-wall-street-ai-chip-boom-asia-tech-stocks-business-live-news