Market Analysis

New BT CEO Targets Doubling Free Cash Flow, Shifts Focus to UK Market

Amos Simanungkalit · 16 May989 Views

The newly appointed CEO of BT outlined plans on Thursday to significantly increase free cash flow over the next five years, potentially divesting its global operations to focus on investments in Britain, particularly in its fibre and 5G networks.

Allison Kirkby, who previously headed Telia in Sweden, announced a 3.9% dividend increase to 8 pence per share for the 2024 fiscal year, citing better-than-expected free cash flow performance.

"We're refining our focus to enhance customer service and national impact by accelerating our operational modernization and considering options to optimize our global operations," Kirkby stated.

BT's full-year revenue reached 20.8 billion pounds ($26.4 billion), up 1%, driven by price adjustments and sales of fibre-based products. Adjusted core earnings rose 2% to 8.1 billion pounds, primarily fueled by its consumer and Openreach networks divisions, aligning with market expectations.

Paraphrasing text from "Reuters" all rights reserved by the original author.

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