BT, Britain’s biggest mobile and broadband company, has today reported a slight increase in full-year core earnings even as its revenue slipped by 2%, helped by demand for fibre connections and increasing efficiencies.
BT reported core earnings of £8.21 billion, up 1% on the previous year. Analysts had on average expected £8.23 billion, according to a company-compiled consensus.
BT’s networks division Openreach was the only part of the business that grew both revenue and earnings as it continued to roll out fibre across Britain.
“The momentum in, and impact of, our full fibre programme is such that we are now raising our build target by 20% to up to 5 million UK premises in FY26, keeping us comfortably on track to reach 25 million by the end of 2026, while maintaining our cash flow guidance,” chief executive Allison Kirkby said.
Its network now reaches 18 million homes and businesses, with more than 6.5 million premises connected, BT said today.
The company said it was on track to meet its target of £2 billion of free cash in its 2027 financial year and £3 billion by the end of the decade.
Free cash flow in the year to 31 March increased 25% to £1.60 billion, it said.
