Update on BT's £1bn cost savings target

RNS Number : 9054Q

BT Group PLC

01 November 2021

1 November 2021

BT GROUP PLC

UPDATE ON BT'S £1BN COST SAVINGS TARGET

Further to weekend press speculation, BT confirms that it has delivered on its £1bn of gross annualised cost savings 18 months ahead of the March 2023 target.

Enquiries

Press office:
Tom Engel	Tel: +44 7947 711 959
Richard Farnsworth	Tel: +44 7734 776 317

Investor relations:
Mark Lidiard	Tel: 020 7356 4909

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About BT

BT Group is the UK's leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.

For the year ended 31 March 2021, BT Group's reported revenue was £21,331m with reported profit before taxation of £1,804m.

British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.

For more information, visit www.bt.com/about

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Update on BT's £1bn cost savings target - BT Group PLC | RNS | Ticker