Report Overview

Notice: Undefined variable: post in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 69

Notice: Trying to get property 'ID' of non-object in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 69

BT FY 2008-09 Q3 results: another mighty wave is looming

PublisherEnders Analysis.
Publish Date February 16, 2009
Sector Fixed Line (Internet and Voice).
Company BT.

Notice: Undefined variable: newDownloads in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 132

Notice: Undefined variable: post_id in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 138

Notice: Undefined index: pdf in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 157

Notice: Undefined variable: link in /home/virtinalabs/public_html/venture.virtinalabs.net/wp-content/themes/septera-plus/woocommerce/single-report.php on line 386

GAIN ACCESS

As announced in the January trading update, BT’s Q3 results were hit by poor cost control at Global Services and the identification of some toxic’ contracts. Performance elsewhere continued to be reasonable but helped by a spike at Openreach and non-core business.

With a further one-off’ charge against GS EBITDA in Q4 a virtual certainty, we continue to expect problems at Global Services to combine with recessionary pressures and stalling broadband growth to constrain performance well into 2010.

A large pension deficit at the actuarial valuation in May looks inevitable. The Digital Britain initiative could pave the way for legitimate government and regulatory support.

Report Overview

BT FY 2008-09 Q3 results: another mighty wave is looming

As announced in the January trading update, BT’s Q3 results were hit by poor cost control at Global Services and the identification of some toxic’ contracts. Performance elsewhere continued to be reasonable but helped by a spike at Openreach and non-core business.

With a further one-off’ charge against GS EBITDA in Q4 a virtual certainty, we continue to expect problems at Global Services to combine with recessionary pressures and stalling broadband growth to constrain performance well into 2010.

A large pension deficit at the actuarial valuation in May looks inevitable. The Digital Britain initiative could pave the way for legitimate government and regulatory support.

As announced in the January trading update, BT’s Q3 results were hit by poor cost control at Global Services and the identification of some toxic’ contracts. Performance elsewhere continued to be reasonable but helped by a spike at Openreach and non-core business.

With a further one-off’ charge against GS EBITDA in Q4 a virtual certainty, we continue to expect problems at Global Services to combine with recessionary pressures and stalling broadband growth to constrain performance well into 2010.