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Stock Footage

Bt Warns On Profit Over Italian Scandal And Uk Slowdown

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Description

By Reuters

Description:
LONDON, ENGLAND, UK (JANUARY 24, 2017) (REUTERS) (SOUNDBITE) (English) KATHLEEN BROOK, SENIOR MARKETS ANALYST, CITY INDEX, SAYING: "BT have been attacked on two fronts basically, the first is accounting irregularities with their Italian business. They knew that there were going to be problems, they basically overstated profits there, they had set aside 150 million pounds to deal with it but that's now gone up to half a billion pounds. That's not looking good but on the other side they have issued a longer-term profit warning basically because of public sector spending. Public sector spending is falling, we know that in the UK and we expect to see more declines throughout the rest of this parliament and that's really starting to bite with BT as well. Remember the government was a big purchaser of their services - not that that's fallen - that's going to be a big problem. Things like BT Sport, BT TV, that sort of thing, that's doing pretty well but that's not enough to cover these big challenges that the company faces."
Dateline: 2017

Additional Information

Item ID:
110496185
Usage:
Editorial
Duration:
00:00:53
Looping:
No
Alpha Matte:
No
Advanced Licensing Options
Alpha Channel:
No
Model Released:
No
Property Released:
No
Location:
London, England, Uk / Unknown, Uk
Average Bitrate:
11.4 Mbps
Bit Depth:
24
Audio Channels:
2
Audio Format:
mp4a
Audio Sample Rate:
48000