CORRECT: BT job cuts continue, ups payout despite interim profit fall
(Fixed some misspellings.)
BT Group PLC on Thursday announced a higher dividend as profit and revenue fell due to losing customers to competitors in its first financial half, as it reiterated its mid-term outlook.
The London-based telecommunications company said pretax profit fell 11% to £862 million in the six months to September 30, from £967 million a year ago.
Revenue decreased 3.0% to £9.81 billion from £10.12 billion.
Capital expenditure increased by 7.7% to £2.44 billion from £2.27 billion.
Notably, the number of Openreach broadband customers declined by 242,000 in the second quarter of 2025, due to competition ‘and a weaker broadband market.’
BT declared an interim dividend of 2.45 pence per share, up 2.0% from 2.40p a year ago.
Meanwhile, BT said it cut its headcount by 6% to 111,000, as it targets between 75,000 and 90,000 employees.
The company said it was delivering ahead of its five-year £3 billion cost reduction programme, with £247 million in gross annualised cost savings during the six months to September 30, for a cumulative £1.2 billion in the first 18 months.
Looking ahead, it reiterated all financial 2026 guidance and its mid-term outlook. BT targets financial 2026 adjusted revenue of around £20 billion, similar to £20.37 billion in financial 2025. Further, it plans sustained growth from financial 2027.
BT shares rose 3.4% to 186.12 pence each on Thursday morning in London.
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