BT lifts outlook after profits rise

Suzie Neuwirth

BT GROUP today announced results that beat expectations, with pre-tax profits up two per cent for the full year, although earnings fell five per cent quarter on quarter.

The telecoms company has changed its future outlook as a result, raising its forecasts on earnings and free cash flow.

Earning expectations were raised to £6.2-6.3bn for 2014/15, while free cash flow is expected to hit £2.6bn next year.

This is despite heavy investment in its newly-launched BT Sport venture, which the company hopes will rival Sky’s dominance.

“Our focus on improving efficiency across the business will allow us to continue to deliver strong financial results whilst making these investments,” said chief exec Ian Livingston.

“Our good performance this year is reflected in our dividend which is up 14% for the year.”