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UPDATE 1-Britain's BT returns to revenue growth, reaffirms guidance

UPDATE 1-Britain's BT returns to revenue growth, reaffirms guidance

Reuters · 07/28/2022 02:42
UPDATE 1-Britain's BT returns to revenue growth, reaffirms guidance

Adds details, quote

- BT Group BTTGY met market expectations on Thursday with a 1% increase in first-quarter revenue, helped by price rises and improved trading in its consumer division and Openreach .

The company, which on Friday faces a strike by 40,000 workers over pay, reported core earnings up 2% at 1.9 billion pounds ($2.3 billion) on revenue of 5.1 billion pounds and said it remained confident about its outlook.

Chief Executive Philip Jansen said BT was performing well operationally and had returned to revenue and core earnings growth in the three months to June 30 despite ongoing challenges in its enterprise business.

"We are delivering and, the current economic uncertainty, we remain confident in our outlook for this financial year," he said.

BT said it had plans in place to minimise disruption and keep customers connected during the two-day strike.



($1 = 0.8210 pounds)


(Reporting by Paul Sandle
Editing by Sachin Ravikumar and David Goodman
)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.))