BT Group plc (BT.L) today announces its results for the fourth quarter and year to 31 March 2010. The company is also holding an Investor Day today at which it will provide an update on its business and future plans. All material information is contained in this announcement.
Ian Livingston, Chief Executive, commenting, said:
"We have made good progress this year and have now set clear objectives for the next three years.
"We have improved customer service, are transforming the cost base and have more than doubled free cash flow, but there is still a lot more to do.
"We are investing in the future of our business, enhancing our TV offering and building on opportunities in our Global Services business. Assuming an acceptable environment for investment, we see the potential to roll out fibre to around twothirds of the UK by 2015. This will take our total fibre investment to £2.5bn which will be managed within our current levels of capital expenditure.
"During the next three year period we expect to improve our underlying revenue trends, and grow EBITDA and free cash flow, while investing in the business, supporting the pension fund, reducing net debt and paying progressive dividends.
"We are on track with our goal of creating a better business with a better future."
Ian Livingston, Chief Executive, commenting, said:
"We have made good progress this year and have now set clear objectives for the next three years.
"We have improved customer service, are transforming the cost base and have more than doubled free cash flow, but there is still a lot more to do.
"We are investing in the future of our business, enhancing our TV offering and building on opportunities in our Global Services business. Assuming an acceptable environment for investment, we see the potential to roll out fibre to around twothirds of the UK by 2015. This will take our total fibre investment to £2.5bn which will be managed within our current levels of capital expenditure.
"During the next three year period we expect to improve our underlying revenue trends, and grow EBITDA and free cash flow, while investing in the business, supporting the pension fund, reducing net debt and paying progressive dividends.
"We are on track with our goal of creating a better business with a better future."
