The British telecoms company, BT, has assured its investors that it'll hit its full-year profits target after reporting third quarter earnings in line with analysts' expectations.
Adjusted core earnings for the third quarter came in a £2 billion, a rise of 2 per cent, while revenue was £5.2 billion.
Meanwhile, BT said revenue for the first nine months of the fiscal year was 1 per cent lower at £15.6 billion.
Inflation-linked price rises made at the start of its financial year supported revenue, the company said, although the disposal of BT Sport resulted in a decline in its biggest consumer unit in the three months to the end of December.
BT Sport was bought by Warner's Discovery unit back in September last year.
“Despite extraordinary energy costs and other inflationary headwinds, we are reaffirming our outlook for the year,” said chief executive, Philip Jansen.
BT, which is Britain's biggest broadband and mobile operator, said demand for faster connections was strong, with a record 155,000 customers signing up to its full-fibre products in the quarter.
“Cost cuts remain the aim of the game as BT battles with higher costs from a host of angles. There’s no avoiding the fact cash flow is under pressure,” said Matt Britzman, equity analyst at Hargreaves Lansdown.
“The rapid roll out of fibre and 5G doesn’t come cheap, but it’s ultimately a necessary evil that should pay dividends down the road.”
“Strength from the consumer division should be a driver of growth, the update of fibre is progressing well, and inflation-linked price hikes should help limit some of the impact from inflated costs,” he added.
Falling shares
After four years with Mr Jansen at the helm of BT, the company shares have lost almost half their value as he has confronted energy inflation, strikes, an increasingly gloomy economic outlook and a ban on key supplier Huawei Technologies.
It was turbulent 2022 for BT. In April, it announced a major shake-up, which moved all of its consumer units moved under the EE brand, with BT itself becoming the flagship brand for its enterprise units.
Another restructuring plan that combines BT's enterprise units with those of its global arm was set out in December, with the aim of making £100 million in cost savings by 2025.
Last year BT pushed its overall cost cutting target for 2025 from £2.5 billion to £3 billion.
Over the past year, BT shares have fallen 37 per cent, compared with a 2.4 per cent rise in the FTSE 100 index of blue chip UK shares.
BT shares slipped 2.5 per cent in early trade in London on Thursday, but later recovered.
Nonetheless, many analysts now rate the shares as a “buy” and BT's largest shareholder, the French billionaire Patrick Drahi’s Altice Group, which owns 18 per cent of the company, believes BT is undervalued, a financial adviser to the group said this week.
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
Poacher
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Landfill in numbers
• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away
• 50 per cent of Abu Dhabi’s waste is from construction and demolition
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Killing of Qassem Suleimani
The specs: 2018 Bentley Bentayga V8
Price, base: Dh853,226
Engine: 4.0-litre twin-turbo V8
Transmission: Eight-speed automatic
Power: 550hp @ 6,000pm
Torque: 770Nm @ 1,960rpm
Fuel economy, combined: 11.4L / 100km
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
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Transmission: Single-speed automatic
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On sale: Now
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
Brief scores:
Huesca 0
Real Madrid 1
Bale 8'
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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Price: From Dh590,000
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
UAE currency: the story behind the money in your pockets
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
Killing of Qassem Suleimani
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Scoreline
Real Madrid 1
Ronaldo (53')
Atletico Madrid 1
Griezmann (57')
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
