BT’s outgoing CEO, Gavin Patterson signed off with a flourish this week, as BT Group beat analysts’ predictions to record strong growth in its third-quarter adjusted revenues.
BT also reported strong figures for its consumer division, which saw a 15 percent rise in its adjusted EBIDTA in the third quarter of its 2018/19 financial year, to £643m.
“In Consumer, we launched the next version of our converged consumer offering, BT Plus with Complete Wi-Fi. Following successful trials in London we announced our plan to launch 5G in 16 UK cities in 2019. Openreach accelerated its FTTP commissioning and has now passed 890,000 premises. We are ready to expand our FTTP programme up to and beyond 10 million premises if the conditions are right,” said Patterson.
“I am handing over the business with good momentum behind its ongoing transformation programme and wish my colleagues all the best for the future,” he added.
With Patterson departing his role at BT after 5 years in the hot seat, attention will turn to the challenges that lie ahead for his replacement, Philip Jansen.
“[We are starting to see] early signs that Patterson’s restructuring strategy is bearing fruits,” said tech, media and telco analyst, Paolo Pescatore.
“The incoming CEO will still need to make some tough decisions. First and foremost, whether the current strategy should be tweaked.”
“Expect to hear more about Jansen future vision and strategy for the company at its full-year results,” he added. —Total Telecom