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BT Group in a pretty good position despite sell-off

ETX Capital's Neil Wilson gives his view on BT Group plc's (LON:BT.A) first quarter results.

The closely followed UK telecoms giant was the top loser on the FTSE today, as its shares sank over 3% to 304.20p, on the back of the numbers.

Its shares are down around 17% since the start of the year.

The group was forced to pay out £225mln to shareholders Deutsche Telekom and Orange in the wake of its purchase of EE in 2015 and the accounting scandal at BT's Italy operation, meaning pre-tax profit for the three months to end June sank 42% to £418mln.

 

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