BT Group has reported a slight revenue increase to £20.8 billion, a 1% rise from last year, driven by price hikes for broadband customers, robust sales of fibre products in Openreach, and growth in the consumer division. However, the company’s pre-tax profits dropped sharply by 31%, falling to £1.18 billion, despite a 2% rise in adjusted EBITDA, which reached £8.1 billion.
BT has announced a significant triumph, securing a $70 million contract to revamp and bolster the IT infrastructure of the Devon & Cornwall and Dorset police forces. This transformative deal encompasses a broad spectrum of IT solutions essential for operational efficacy.
A recent market study by INCA (Independent Networks Cooperative Association) and Point Topic reveals that alternative network builders in the UK have collectively expanded fibre infrastructure to more premises than BT’s Openreach unit. By the end of 2023, UK altnets had reached 12.9 million premises with fibre, exceeding Openreach’s coverage of 12.8 million.
BT joins forces with UK Business Climate Hub to empower small to medium UK businesses to slash their CO2e emissions in half by 2030. The strategic partnership aims to combat climate change, utilizing BT’s experience and UKBCH’s resources, ultimately championing for net-zero emissions by 2050. However, reaching these transformational green goals may prove challenging for many businesses, highlighting the necessity of this collaborative initiative.
Vodafone Idea, a struggling telecom operator in India, is set to embark on a significant equity fundraising effort to secure more than $2 billion. This move comes as the company faces mounting bills and aims to finance the rollout of its 5G network.
BT and Global have entered a 10-year collaboration to modernize UK’s traditional payphones and expand digital hubs in local communities, fostering enhanced connectivity and local advertising opportunities. A major highlight includes the transformation of BT’s iconic payphones, expected to develop into a progressive stride towards telecommunications future.
TIM, the Italian telecommunications giant, encountered a significant drop in its share value following the announcement of an expected increase in net debt by over €1 billion due to the sale of its networks division. The company’s strategic initiative, dubbed the Free to Run plan, aimed at reducing debt through the sale, ironically led to a sharp decline in share prices, which plummeted further after the disclosure of financial details on Monday.
At the Mobile World Congress (MWC) 2024, BT’s Division X unveiled a significant advancement in their technology offerings, introducing a multi-million-pound investment in a narrowband Internet of Things (NB IoT) network. This move is poised to revolutionize the IoT landscape across various sectors, promising a new era of smart cities and advanced agriculture. Chris Keone, the Managing Director of Division X, shared insights into how this technology is setting the stage for futuristic urban environments and industry transformations.
Pioneering a new age in software engineering, BT’s Digital Unit collaborates with Amazon Web Services, integrating the GenAI tool, Amazon CodeWhisperer—an AI equivalent to autocorrect for coding, proficient in 15 unique languages. Beyond code suggestion, CodeWhisperer ensures code safety and reliability, filtering out potential vulnerabilities, leading to a 12% automation of routine coding tasks.
In a bold move to reshape the UK’s broadband landscape, VMO2, backed by shareholders Liberty Global and Telefónica, has announced the launch of a new fixed network company, ambitiously positioned as a direct competitor to BT’s Openreach. Dubbed NetCo for now, this venture aims to accelerate the adoption of full fibre broadband, offering a fresh financing framework and a potential platform for the consolidation of alternative network providers (altnets).
