BT has reported full year revenue of £19.7 billion (€26.4bn) down 3 per cent and adjusted revenue £19.6 billion, down 4 per cent, driven by lower International revenue including divestments, declines in handset trading and declines in adjusted UK service revenue.

Reported profit before tax however was £1.4 billion, up 8 per cent, with the increase primarily driven by lower specific items, lower depreciation and amortisation, offset by a higher finance expense. The telco reported record FTTP build, and record customer demand for Openreach FTTP.

Allison Kirkby, Chief Executive, commenting on the results, said: “FY26 was another year of strong delivery against BT’s strategy. We are building the UK’s digital backbone even faster and further, connecting the country like no one else and accelerating our transformation – and we know there is much more we can do, as we create a better BT for all of us.”

“Our record-breaking Openreach full fibre build hit its upgraded target and today reaches more than two thirds of UK homes and businesses, keeping us well on track for our 25 million milestone by the end of December. We extended our mobile leadership further, with EE winning best mobile network in three separate awards, bringing 5G+ to 73 per cent of the population.”

“Customer satisfaction reached a new high, with increased demand for our next-generation products and networks. Openreach achieved record full fibre connections and reduced line losses. And by using all our brands – BT, EE and Plusnet – our Consumer division returned to customer growth across broadband, mobile and TV. Our Business division has secured significant customer wins as its transformation progresses – and we’ve completed five targeted non-core disposals as we reshape BT International.”

“We have delivered on our financial guidance and we are transforming ahead of plan, offsetting headwinds while successfully competing. Today we’re announcing an increased full year dividend of 8.32 pence per share and an updated dividend policy, and we are reiterating our guidance of sustained growth, including cash flow inflection to c. £2 billion in FY27 and to c. £3 billion by the end of the decade,” she concluded.

Full year highlights

• Record FTTP build of 4.8 million premises passed in the year, achieving the accelerated target set last year, the fastest build in Europe; FTTP footprint at 23 million premises, more than two thirds of all UK premises, of which 6.3 million in rural locations; on track to reach a set target of 25 million by December 2026
• Record customer demand for Openreach FTTP with 2.2 million net adds in the year; total premises connected total 8.8 million, bringing take-up rate amongst all major fibre providers to over 38 per cent; Openreach broadband ARPU in the year grew by 4 per cent to £16.70, driven by higher FTTP take-up, speed mix and price increases
• Openreach broadband line losses were 203k in Q4, giving full year losses of 825k, slightly better than the c. 850k guidance, supported by expanded and accelerated build; BT expects losses of c. 800k in FY27
• EE remains the UK’s best mobile network, evidenced by independent industry assessments, including Umlaut, Opensignal and RootMetrics; 5G+ population coverage increased to 73 per cent from 43 per cent last year
• Retail FTTP base grew by 31 per cent year-on-year to 4.5 million, of which Consumer 4.2 million and Business 0.3 million; 5G base reached 14.5 million, up 10 per cent year-on-year; BT brand reintroduced with new products across Consumer and Business segments during May 2026
• Consumer customer base growth up 26k in broadband, 104k in postpaid mobile and 72k in TV, with stable to falling churn
• Consumer ARPU down 1 per cent to £41.7 in broadband and down 1 per cent to £19.3 in postpaid mobile year-on-year in a competitive market; Consumer fixed and mobile convergence increased to 26.6 per cent from 24.6 per cent last year
• Overall transformation plan target raised to £3.7 billion from £3 billion and extending the programme by one year to FY30, at a cost to achieve of £1.4 billion from £1 billion
• Record BT Group NPS of 33.4, up 4.1pts year-on-year; customer satisfaction up across all brands

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Categories: Articles, Business, Results, Telco

Tags: Allison Kirkby, bt, telco