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BT reported flat first-half profit amid a fall in revenue as the cost increased amid a ramp-up in investments and revenues were hurt by weakness in its global and enterprise businesses. For the six months ended 30 September, reported pre-tax profit was flat at £1,333m and revenue fell 1% to £11,467m, mainly driven by the impact of regulation, declines in legacy products, and a implemented decline in low margin business, the company said.
Adjusted earnings (EBITDA) fell 3% to £3,923m and capital expenditure was £225m to £1,882m in the period, driven by increased network investment.
The interim dividend of 4.62p per share was 30% of last year's full-year dividend of 15.4p per share, the company said. 'BT delivered results in line with our expectations for the second quarter and first half of the year, and we remain on track to meet our outlook for the full year,' said Philip Jansen, chief executive.