Overview
- Openreach shed 242,000 broadband lines in the quarter, which BT attributed to tougher competition and a softer broadband market.
- BT reduced its workforce to 111,000, about 6% lower than at the start of the year, delivering roughly £250m of savings in the half and £1.2bn over 18 months toward a £3bn annual target.
- Group revenue fell 3% to £9.8bn for the six months to 30 September, with pre-tax profit down 11% to £862m and adjusted EBITDA flat year on year at £4.1bn.
- Openreach reported 1.1m net fibre additions in the half, with full‑fibre coverage now surpassing 20 million premises.
- BT reaffirmed full‑year guidance of around £20bn revenue and £8.2bn–£8.3bn EBITDA, raised its interim dividend by 2% to 2.45p per share, and said it will launch a budget broadband brand to reach price‑sensitive customers.