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LONDON - British Telecommunications plc (BT) reported a 3% decline in revenue to £9.81 billion for the half year ended September 30, 2025, as the company continues its strategic shift toward UK connectivity and digital transformation.
The telecommunications giant maintained stable adjusted EBITDA of £4.13 billion despite revenue pressures, with profit before tax falling 12% to £1.19 billion, primarily due to higher depreciation and amortization costs from an expanded asset base.
BT's UK service revenue, a key performance metric, decreased 1% to £7.73 billion, with declines in legacy voice services and competitive pricing pressure partially offset by fiber broadband growth and price increases in Openreach.
The company's fiber-to-the-premises (FTTP) deployment continues to accelerate, with Openreach passing 1.2 million premises in the second quarter at an average build rate of 90,000 per week. The FTTP connected base surpassed 7.6 million, with record net additions of 550,000 in the quarter.
"Strong cost transformation and cost control offset revenue flow through and higher National Insurance and National Living Wage costs," BT stated in its press release.
Capital expenditure increased 8% to £2.44 billion, reflecting higher FTTP build and provision volumes in Openreach as the company accelerates its fiber deployment.
Consumer revenue fell 3% to £4.68 billion, while Business revenue decreased 2% to £2.59 billion. The newly formed International unit, which focuses on multinational corporations, saw a 9% revenue decline to £1.11 billion. Openreach revenue remained flat at £3.13 billion.
The company's IAS 19 pension deficit decreased to £3.9 billion at September 30, 2025, from £4.1 billion at March 31, 2025, primarily due to scheduled contributions.
BT also reported progress on its £3 billion cost transformation program, delivering £247 million in annualized cost savings during the half year at a cost of £134 million.
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