Our investments are delivering for the business and we expect them to support our goal of sustainable, profitable revenue growth. Combined with a continued focus on cost transformation across the group, we aim to grow our EBITDA. This will drive long-term cash flow growth for the business. We will continue our prudent financial policy of investing in our business, reducing net debt, supporting the pension fund and paying progressive dividends.
|Underlying revenue2 excluding transit||-3.1%||+0.5%||-0.4%||+2%|
|Profit before taxation1||£2,656m||£2,827m||£3,172m||£3,473m||+9%|
|Earnings per share1||26.3p||28.2p||31.5p||33.2p||+5%|
|Full year dividend||9.5p||10.9p||12.4p||14.0p||+13%|
|Normalised free cash flow4||£2,300m||£2,450m||£2,830m||£3,098m||+9%|
|Customer service improvement||-4.0%||+1.5%||+4.7%||-3%|
|BT retail broadband customers||6.7m||7.3m||7.7m||9.0m|
|Total Openreach broadband lines||17.6m||18.5m||19.3m||19.9m|
EBITDA: Earnings before interest, taxation, depreciation and amortisation.
1 Before specific items.
2 Excludes specific items, foreign exchange movements and the effect of acquisitions and disposals.
3 before purchases of telecommunications licences.
4 before specific items, purchases of telecommunications licences, pension deficit payments and the cash tax benefit of pension deficit payments.