BT Group

Ticker BT.A

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Market closed
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As of 02:31 10 Dec 2018
Market cap. Pound sterling
25,052.82 million
As of 02:31 10 Dec 2018

Latest updates

BT problems now fixed

BT twoer

A BT spokesperson says its service is now back to normal.

“Yesterday afternoon some mobile customers were affected by an issue which was preventing some SMS or MMS messages being delivered.

"We can confirm the issue has been fixed and we apologise for any inconvenience caused.

"Throughout phone calls and all mobile data services, including messaging services like WhatsApp and iMessage continued working as normal," a spokesperson said in a statement.

BT bars Huawei's 5G kit from core of network

BT sign
Getty Images

BT has said it will not use Huawei's equipment within the heart of its 5G mobile network when it is rolled out in the UK.

The British firm, however, still plans to use the Chinese company's phone mast antennas and other products deemed not to be at the "core" of the service.

BT also confirmed that it was stripping out Huawei equipment from the core of its existing 3G and 4G networks,as revealed by the Financial Times(FT).

It follows security concerns.

Read more here.

BT 'to remove Huawei from 4G network'

BT sign

Last week, the New Zealand government prevented Chinese firm Huawei supplying a local mobile network with 5G equipment due to security concerns.

Now BT has said it plans to remove Huawei's equipment from its core 4G network within two years, according to The Financial Times.

BT has also excluded Huawei from bidding for contracts to supply equipment for use in its core 5G network, it said.

However, BT will continue to use Huawei's kit in what it considers to be benign parts of the network, such as equipment on masts, FT said.

Big day for BT pension fund holders

Today Programme

BBC Radio 4

BT Tower

Around 80,000 BT pensioners will find out today if the company can switch the way their annual increases in payments are calculated.

At the moment the pension uses Retail Price Index (RPI) measure. It wants to change it to the lower Consumer Price Index (CPI) measure.

Earlier this year the High Court said there couldn't be a switch - BT appealed and today we hear the Court of Appeal's verdict.

According to Daniela Silcock, Head of Policy Research at the Pensions Policy Institute, the move could save BT £2bn straight away and then more over time.

BT is keen to win the appeal as it its pension deficit has "sky-rocketed" to £14bn, she said.

However, she quotes an estimate from the union Unison which said the switch will cost a pensioner around £12,000 over the lifetime of the pension.

FTSE 100 falls at close

BT logo

It has been a bumpy trading day for the FTSE 100.

It has ended down 0.46% at 7,095.65.

Trading on the FTSE 100 on Thursday
Trading on the FTSE 100 on Thursday

BT Group is Thursday's best performer on the blue chip index, up 8.7% at 261.57p after publishing its interim results.

Share in BP, on the other hand, shed 4.85% to 539.8p despite revealing that third quarter profits reached a five-year high.

Conversely, the FTSE 250 finished 1.19% ahead at 19,142.82.

BT shares soar

Gavin Patterson

BT is firmly at the top of the FTSE 100 risers today, up close to 9%.

Outgoing chief executive Gavin Patterson (pictured) said the group's recovery plan was delivering after more sales of high-end smartphones and cost savings helped boost half -year profits.

Analysts at Citi, who have a "neutral" rating on BT, said the results were "solid with steady improvements in the underlying trends".

Broker Bernstein was more enthusiastic, calling the figures "stellar", while Neil Wilson at spares a thought for "poor old Gavin Patterson - he can say the turnaround strategy is paying off and arguably there are some encouraging signs here, but he won't be around to oversee it".

He was forced to walk the plank in June when chairman Jan du Plessis said that while the board was confident in Mr Patterson's strategy, it doubted his ability to deliver it.

BT dials up higher profits

BT sign
Getty Images

Pre-tax profits at BT are up 24% at £1.34bn despite revenue slipping 2% to £11.6bn in the six months to 30 September.

The higher profits were driven by customers opting for more expensive smartphones at EE, its consumer business, and restructuring-related cost savings.

Outgoing chief executive Gavin Patterson said BT had "positive momentum" in the second quarter.

"Our strategy is delivering, with benefits evident from the steps we've been taking to simplify and strengthen the business and improve efficiency. Despite increasingly competitive fixed, mobile and networking markets and continued declines in legacy products there is no change in our overall outlook for the full year."

Philip Jansen takes over as chief executive in February.

BT's new £1m-plus man

Philip Jansen, incoming boss of BT
Philip Jansen, incoming boss of BT

More on the new chief taking over at BT...

Worldpay's Philip Jansen, who will replace Gavin Patterson, will be paid £1.1m per year and get a bonus worth 240% of his salary every year.

That's not to mention joining a long term incentive share plan worth 400% of his salary, which vests after three years.

BT said in June that a new leader was needed to restructure Britain's biggest broadband and mobile provider.

It's been struggling with intense competition from rivals, an under-performing IT services unit, a huge pension deficit and criticism of its broadband roll-out plans.

Mr Jansen has headed up Worldpay since 2013, leading it through its flotation in 2015. He was previously chief executive and then chairman of Brakes Group, a food business.

Here's the official BT announcement.