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Highlights
BT Group reports decline in adjusted revenue and earnings amid increased finance and amortisation costs
Centrica records statutory operating loss in first half, citing derivative contract re-measurements and asset impairments
FTSE 100 set to open higher despite subdued updates from key constituents
Telecommunications and energy sectors featured prominently in early Thursday updates on the FTSE 100, with BT Group (LON:BT) and Centrica (LON:CNA) releasing interim figures that reflected a slower start to the financial year. The benchmark index was set to open stronger, adding to the previous session’s gains.
BT Group Sees Lower Revenue and Earnings Performance
BT Group, listed on the FTSE 100, reported a drop in total adjusted revenue and earnings for the initial part of the fiscal year. The telecoms operator flagged higher net finance charges and depreciation as key contributors to a decline in reported pre-tax. Despite the downtrend, the company described its performance as stable and affirmed that operational delivery continued as expected across its network infrastructure and customer services divisions.
The company’s ongoing cost transformation programme remains a focus, while its Openreach and Consumer segments continued to drive activity. Adjusted earnings were marginally lower year-on-year, with the financial results impacted by higher costs in network expansion and technological upgrades.
Centrica Records Operating Loss Amid Energy Contract Revaluations
Energy and services provider Centrica, part of the FTSE 100, reported a statutory operating loss for the six-month period ending in June. The downturn was attributed to substantial net losses related to the re-measurement of derivative energy contracts and impairments on certain assets. Adjusted underlying earnings also fell, reflecting broader challenges across wholesale energy markets and lower commodity prices.
The firm highlighted ongoing efforts to manage a volatile operating environment, with a focus on protecting customer value and ensuring operational resilience. The group’s energy supply arm continued to serve households across the UK, but was affected by market fluctuations and hedging costs.
Market Outlook Supported Despite Company-Specific Declines
While BT and Centrica both reported weaker interim figures, broader sentiment across UK equities remained upbeat ahead of the market opening. The FTSE 100 was poised to open higher, supported by wider market momentum and global economic signals.
Centrica remains included among FTSE Dividend Yield constituents due to its historical payout record, although interim earnings pressures may influence future distributions.
Both BT Group and Centrica continue to reflect sector-specific headwinds within the UK corporate landscape, providing insight into the prevailing conditions in telecoms and energy services across the FTSE 100.
