5/7/2015 10:41:46 AM
BT Q4 results: EE deal on track & 50,000 mobile adds
BT has reported a ‘ground breaking year’ as its Q4 results unveiled a 14% increase in annual profits, with more than 50,000 customers signed up on their consumer mobile network.
BT confirmed its £12.5bn acquisition of EE has been approved by their shareholders, and the telecoms group are now awaiting approval from the Competition and Markets Authority (CMA). BT has reported it expects the CMA’s results by 30 September if it is a Phase 1 investigation, or by 31 March 2016 if it is Phase 2.
Commenting on the results, Gavin Patterson, chief executive of BT, said: ‘It’s been a ground-breaking year for BT, in which we’ve made some key decisions and announced some major investments to underpin the future growth of the business.
‘Profit before tax and free cash flow have both grown strongly and we have delivered or beaten the outlook we set at the start of the year.’
More to follow