BT Group Q1 Profit Up 13%

BT Group PLC

posted a 13% gain in its first-quarter profit. BT's quarterly pretax profit rose to GBP584 million, from GBP517 million, in the year-ago period. Its adjusted pretax profit gained to GBP578 million from GBP533 million. BT's revenue dropped to GBP4.48 billion, from GBP4.76 billion. Its adjusted EBITDA rose to GBP1.46 billion from GBP1.44 billion, while earnings per share gained to 5.8 pence from 5.0 pence. BT shares closed at $33.75 yesterday.