viewBT Group PLC

BT’s quarterly update to be “uneventful”, says Berenberg

Analysts expressed support for Philip Jansen, who started as the telecoms firm's chief executive last February

BT Group PLC - BT’s quarterly update to be “uneventful”, says Berenberg

BT Group PLC (LON:BT.A) is to release an “uneventful” update on 31 January, analysts at Berenberg believe, although they expressed their support of the work so far of the telecom group's chief executive, Philip Jansen as he approaches the first anniversary of having taken the helm.

The German investment bank's analysts expect BT's revenue and underlying earnings (EBITDA) for the third quarter to decline by 1.7% and 3.7% respectively.

READ: BT boosted by Ofcom plans to “supercharge” fibre broadband investment

February 1 will mark Jansen's first year of tenure, and the analysts said they think he has been “very visible, energetic”, but believe he could have gone “further and faster in taking control of the narrative around fibre”.

The analysts noted that Jansen increased employee engagement by giving every member of staff £500 in shares and positively navigated the UK political turmoil last year by engaging with both the Conservatives and Labour.

Moreover, none of his executive committee have left since he started, the analysts added in a note to clients.

However, they think the FTSE 100-listed firm could have made a larger, longer-term commitment to Ofcom’s regulatory framework for full-fibre broadband after the March consultation.

The analysts noted that a new meeting this month will provide further clarity, and BT could take a stance in its full-year results in May even though it would hit the group's share price.

Berenberg reiterated a ‘hold’ rating on BT with a 220p price target. The shares were trading 2% lower at 181.28p on Monday.

Quick facts: BT Group PLC

Price: 139.5 GBX

Market: LSE
Market Cap: £13.79 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Base Resources Kwale operations enters new phase and Toliara...

Base Resources Limited (ASX:BSE) (LON:BSE) chief financial officer Kevin Balloch updates Proactive on the highlights of its half year results. The company has had a successful ramp-up of mineral sands mining operations on the South Dune ore body at the Kwale operations in Kenya and continues...

2 hours, 36 minutes ago

2 min read