First quarter down
BT hit by squeeze on sport, unveils small firms plan
Revenue fell for television operation
Reduced income from BT Sport and the impact of Covid-19 on business activity saw group revenue for the first quarter fall 7% to £5.25 billion.
Adjusted EBITDA came in at £1.8bn, also down 7%, driven by the fall in revenue and continued investment in customer experience, partly offset by Covid-19 mitigating actions and savings from the company’s transformation programmes
Reported profit before tax of £561m is down 13%, due to reduced EBITDA, higher interest expense, and higher depreciation and amortisation charges; partly offset by the gain on disposal of Spanish operations
BT has introduced a Small Business Support Scheme to help small businesses.
The plan includes a commitment to pay its 4,500 small business suppliers promptly and within 30 days of being invoiced, to helping firms fund the cost of ultrafast business connections, as well as access to free resources such as business mentoring, digital skills, marketing tools and mental health support.