BT share price: what to expect from its Q1 results
The British telecoms company has seen it share price tumble significantly this year, with it opting to dial back its international operations in favour of focusing on the UK market in a bid to stop its stock falling any lower.
When is BT’s results date?
BT Group will unveil its Q1 results on August 2.
BT’s results preview: what does the City expect?
Since the start of the new year, BT has seen its share price fall more than 20% to 189p a share, down from 240p at the beginning of January.
In fact, the British telecoms company has seen its stock steadily lose more than 62% of its value over the last three and half years, forcing it to take drastic action in a bid to stop it sliding any further.
According to a report by This Is Money, BT’s management has begun offloading ‘everything outside the UK’, with the company putting its entire Latin American business up for sale.
The rationale behind retreating from its operations overseas is to allow the company to focus its attention on its domestic business in the UK market and stop its share price from sliding any further.
Since taking over as CEO in February, Philip Jansen has put several overseas units up for sale, including its operation in Italy, Ireland and Spain.
At the company’s recent annual general meeting (AGM), Jansen said that the capital raised from the sale of its overseas assets will help fund its investment in full-fibre broadband in the UK.
In its annual results, the said it aims to connect more than 15 million households and business with superfast broadband by the mid-2020s.
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BT expected to slash dividend to fund fibre expansion
At its AGM, BT hinted that it may cut its dividend, along with other cost-cutting measures, to help finance its superfast fibre broadband expansion in the UK.
Investors will be eager to see if the company announces a reduction in the dividend in its upcoming Q1 results next week, especially with the business embarking on an ambitious turnaround plan to stop its share price sliding further.
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