BT Group reported adjusted EBITDA of £2.0 billion for the first quarter to 30 June, down 1% year-on-year, as it reiterated its financial targets for the year.
Reported profit before tax fell 4% to £505 million, driven by higher finance costs, partly offset by lower restructuring charges.
Fibre now accounts for more than half of BT's broadband revenues for the first time, with Openreach adding 574,000 new full-fibre connections in the quarter and its fibre-to-the-premises footprint reaching 23.4 million, on track for a 25 million target by December.
Business service revenue is stabilising, with new contracts signed with Scottish Water and Royal Mail, while Openreach broadband lines fell by 192,000, in line with an expected annual decline of around 800,000.
BT reported International as a discontinued operation following its proposed joint venture with Verizon, which chief executive Allison Kirkby said "will create a scaled global connectivity platform and allow us to focus on our transformation in the UK."
The company reconfirmed its full-year outlook, including targeted cash flow of approximately £2 billion this year, rising to approximately £3 billion by the end of the decade.
"We remain on track to deliver our targets... as we create a better BT, for all of us," Kirkby said.
