If Bt has bought back 2million 5 thousand shares to day. How come it shows on trades as a sell?

Blackrock above 5%

1st Quarter results.

BT Group plc (BT.L) today announces its results for the first quarter to 30 June 2010. Unless otherwise stated, the changes in results are year on year against the first quarter to 30 June 2009.



Key points:



Revenue of 5,006m, down 4%

Operating costs1 reduced by 291m

Adjusted EBITDA2 of 1,399m, up 6%

Adjusted profit before tax2 of 446m, up 17%

Adjusted earnings per share2 of 4.4p, up 16%, reported earnings per share of 3.7p, up 32%

Free cash flow of 415m, up 537m

Net debt of 8.9bn, down by more than 1.6bn

Fibre roll out passes over 1.5m UK premises in July

Full year outlook remains unchanged

UPDATE: BT Talking To UK Government About Cuts; Confirms Outlook

Today : Thursday 29 July 2010
Telecommunications firm Bt Group PLC (BT.A.LN) Thursday reiterated that it is in talks with the U.K. government over plans to slash public spending as it kept its full-year outlook and posted solid first-quarter results underpinned by contracts wins and further cost cutting.

BT, whose exposure to U.K. government spending cuts has got investors jittery, said it is "actively engaged with the U.K. government" about spending cuts, which it said present both opportunities and challenges.

Less than 10% of BT's business comes from the U.K. government, which has flagged that some departmental budgets will fall by 25% in real terms over the next four years, Chief Executive Ian Livingston said.

"Like any customer, we're going to try help them meet their costs, their challenges. We're comfortable with our numbers," he said.

The U.K. government's cost cutting plan has already resulted in Cable & Wireless Worldwide PLC (CW.LN) issuing a profit warning last week that knocked its shares, although a greater percentage of its sales derive from government contracts compared with BT. Cable & Wireless competes with BT's global services division.

Livingston said the company has made an "acceptable start" to the new financial year, which ends March 31 2011, delivering improved financial results while investing in the future.

"Despite the challenging environment, these financial results underpin our outlook for the full year," said Livingston.

Stripping out redundancy costs, earnings before interest, tax, depreciation and amortization--one of the main figures U.K. telecom analysts track--rose 6% to GBP1.4 billion in the first quarter ended June 30, beating market expectations of GBP1.37 billion.

The performance was driven by the group's global services division and a GBP291 million reduction in operating costs excluding depreciation and amortization in the first quarter, largely due to reductions in labour costs and cost savings across the board.

Underlying Ebitda at global services, which provides outsourcing work as well as phone and Internet services to businesses, doubled in the first quarter to GBP130 million from GBP62 million a year ago.

First quarter net profit rose 33% to GBP284 million from GBP214 million, driven by the cost savings and higher finance income.

First-quarter revenue fell 4% to GBP5.01 billion from GBP5.24 billion, ahead of expectations of GBP4.95 billion, as customers made fewer landline calls.

Free cash flow, another closely watched figure, rose GBP537 million in the first quarter, while net debt fell sharply by GBP1.6 billion to GBP8.9 billion.

For the current financial year, BT expects revenue of about GBP20 billion, underlying operating cost savings of around GBP900 million and debt of less than GBP9 billion. BT said it expects free cash flow to be around GBP1.8 billion.

However, the company expects a slowdown in underlying Ebitda growth in the second quarter due to the timing of the additional investments announced at the time of its fiscal 2010 results in May.

Court judgment on the Crown Guarantee

Judgment has today been given in the Royal Courts of Justice on the scope and extent of the Government's obligations in respect of the Crown Guarantee.


The key point in the judgment is confirmation that, in the unlikely event of BT becoming insolvent, the Crown Guarantee can cover members who joined the BT Pension Scheme both before and after privatisation. A further hearing is expected to resolve some outstanding points of detail1.

It holds above 160p then 200p on the cards skinny.

I'm hoping for 500p next year.

One can always hope, Mitzy, but have you anything in the fundamentals pointing that way?

No nothing Kevin just based on hope.

OK then. Let's all keep hoping!

lol.

good news regarding the almost 3billion reduction in pension fund liabilities, interim results to be announced next thursday 11th november, could this be the beginning of their renaissance?

Yes - good gap up today and fairly good volume.

pension regulator has yet to have his say

RESULTS FOR THE SECOND QUARTER AND HALF YEAR TO 30 SEPTEMBER 2010


Key points for the second quarter:

Adjusted revenue1 of 4,977m, down 3%

Adjusted EBITDA1 of 1,452m, up 3%

Adjusted profit before tax1 of 496m, up 13% (reported profit before tax of 406m, up 48%)

Adjusted earnings per share1 of 5.1p, up 16% (reported earnings per share down 7% due to prior year tax credit)

Free cash flow2 of 535m; 950m in the half year, up 63%

Net debt2 of 8.7bn, down by 1.2bn

Interim dividend of 2.4p per share, up 4%

2010/11 full year outlook raised:

- adjusted EBITDA1 expected to be around 5.8bn

- free cash flow1 expected to be 2bn

Free cash flow1 in 2011/12 and 2012/13 expected to be above 2bn

From the Independent..


http://www.independent.co.uk/news/business/sharewatch/investment-column-hate-it-or-hate-it-bts-shares-are-cheap-2131775.html

BT has offered to match an 830m government subsidy to offer its superfast broadband to 90% of the population by 2017. It has also kicked off a trial to push speeds to ten times their current level. BT told The Times yesterday that it would ask the government for funds that have been freed up from the television licence fee to bring high-speed broadband to areas where it is economically unviable. It will formally pledge to match this subsidy next Monday when the Government unveils its broadband strategy.

Next year will be a good year.

Great chart 2011 could be a good year now the debt is reduced..

lol , you'll make your mind up one day mitzy :-)

lol Dil..

I'm glad of that..