Sales up 35% at BT Group following EE acquisition

UK-based company cites strong demand for broadband services

BT’s adjusted earnings rose 25 per cent to £1.82 billion. Photograph: PA

BT’s adjusted earnings rose 25 per cent to £1.82 billion. Photograph: PA

 

BT Group reported a 35 per cent sales jump after the acquisition of wireless carrier EE, and cited strong demand for the broadband network it is negotiating to maintain control of with British regulators.

Adjusted revenue advanced to £5.78 billion (€6.9 billion) in the three months ended June 30th, the London-based company said in a statement on Thursday.

Adjusted earnings before interest, taxes, depreciation and amortisation rose 25 per cent to £1.82 billion.

BT rose 3.4 per cent to 415.8 pence in early trading in London, the biggest gain in the Stoxx 600 telecom index. The stock is down 12 per cent so far this year.– (Bloomberg)