BT.A Bt Group Plc

By Adria Calatayud

BT Group PLC (BT.A.LN) reported results for fiscal 2019 on Thursday. Here's what you need to know:

ADJUSTED EBITDA: The British telecommunications company posted adjusted earnings before interest, taxes, depreciation and amortization--BT's preferred profit measure--of 7.39 billion pounds ($9.63 billion) for the year ended March 31, down 2% on year and falling short of analysts' expectations of GBP7.41 billion, according to a consensus compiled by the company.

REVENUE: BT's revenue fell to GBP23.43 billion in fiscal 2019 from GBP23.72 billion a year before, but exceeded a company-provided consensus forecast of GBP23.38 billion.

WHAT WE WATCHED:

-STRATEGY: BT's Chief Executive Philip Jansen said the company now aims to deploy ultrafast fiber connections to 4 million premises by fiscal 2021, up from its previous target of 3 million, and 15 million premises by the mid-2020s, up from 10 million previously. These targets remain conditional on the company getting the "right" regulatory conditions, Mr. Jansen said.

Analysts at UBS said Mr. Jansen decided to stick to BT's existing strategy, but with more aggressive execution. According to analysts at investment platform Interactive Investor, some investors may be disappointed by the absence of more dramatic changes.

-DIVIDEND: BT held its dividend for fiscal 2019 at 15.4 pence a share and Mr. Jansen said the board intends to maintain it at the same level in the current fiscal year. This should come as a relief amid investors' concerns about a potential cut. However, analysts at UBS said it is unclear whether increased spending will be funded from a reallocation of expenditure, more savings or a dividend cut in the longer term.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

May 09, 2019 10:20 ET (14:20 GMT)

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