EE Q2 results up four per cent to £1.326 billion while BT struggles

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EE is on target to make an efficiency saving of £250 million

EE reported its fiscal Q2 results rose four per cent year-on-year to £1.326 billion, its also on target to make an efficiency saving of £250 million.

Operating profit was £137 million, up 65 per cent on Q2 2016. EBITDA is up 16 per cent from £282m to £326m year-on-year.

BT’s mobile customer base comprising of EE and BT branded offerings increased by 19,000 in Q2, taking pay monthly base to 279,000. Which counteracts a 260,000 decline in prepay customers. Total pay monthly base stands at 17.3m.

BT’s Q2 struggled in comparison the with the firm posting one per cent declines in  both revenue and pre-tax profit year-on-year to £4.5 billion and £666 million respectively.

BT Group CEO Gavin Patterson said: “Our first half results are in line with our expectations as encouraging results in our consumer facing lines of business, notably EE, helped offset ongoing challenges in our enterprise divisions, in particular Global Services. Given our underlying business performance, we are maintaining our outlook for the year”.

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