Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Telecoms giant BT reported a fall in profit in the first half of the year as higher finance expenses and a weakness in its enterprise and global business weighed on performance.
for the half year to 30 September 2021, pre-tax profit fell 5% to £1,009 million, while revenue fell 3% to £10,305 million
The fall in revenue was driven by a decline in its enterprise and global, and flat growth in its consumer business.
An interim dividend of 2.31p per share was declared,
'Openreach has now rolled out full fibre broadband to almost 6m premises and continues to lower its build cost,' the company said.
Looking ahead, the company confirmed its financial outlook for FY22 and FY23, and brought forward its savings target.
'We have hit our £1bn cost savings target 18 months early, which allows us to bring forward our FY25 target for £2bn of savings to FY24,' the company said.