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General

BT earnings hit by Italian charge, underlying sales up 1.1%

Thursday 27 October 2016 | 10:55 CET | News
BT said it booked a GBP 145 million non-cash writedown in its fiscal second quarter to September following an internal probe into "inappropriate management behaviour" in its BT Italia operations. The announcement came as the group posted a 35 percent increase in reported revenue in the period to GBP 6.007 billion, thanks mainly to the EE acqusition. On a pro forma basis and excluding transit revenues, sales were up 1.1 percent year-on-year, led by growth in the consumer division.

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Categories: General
Companies: BT / BT Italia / EE
Countries: United Kingdom
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