BT BT Group PLC

By Adria Calatayud

BT Group PLC (BT.A.LN) said Thursday that it is increasing its fiber-deployment targets, as it posted a 1.9% rise in fiscal 2019 pretax profit and said it would maintain its dividend for fiscal 2020 unchanged.

The British telecommunications company made a pretax profit of 2.67 billion pounds ($3.47 billion) in the year ended March 31 compared with GBP2.61 billion a year earlier.

BT's adjusted earnings before interest, taxes, depreciation and amortization--its preferred profit measure--was down 2% at GBP7.39 billion.

Revenue for the year fell to GBP23.43 billion from GBP23.72 billion a year before, BT said.

The board declared a final dividend of 10.78 pence a share, taking its total payout for the year to 15.4 pence, unchanged on the prior year. For fiscal 2020, the company intends to hold its dividend at the same level, it said.

The company increased its target for deploying ultrafast fiber connectivity to 4 million premises by fiscal 2021 from its previous goal of 3 million premises. By the mid-2020s, BT aims to pass 15 million premises, up from its previous target of 10 million, the company said.

The company guided for capital expenditure of between GBP3.7 billion and GBP3.9 billion. Adjusted revenue is expected to fall 2% in fiscal 2020 and adjusted Ebitda is expected to come in at between GBP7.2 billion and GBP7.3 billion, BT said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

May 09, 2019 02:45 ET (06:45 GMT)

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