is one of Europe's leading providers of telecommunications services.
Its principal activities include local, national and international
telecommunications services, higher-value broadband and internet
products and services, and IT solutions. In the UK, BT serves
over 20 million business and residential customers with more
than 29 million exchange lines, as well as providing network
services to other licensed operators.
strategy is to create value for shareholders through
being the best provider of communications services and
solutions for everybody in the UK, and for corporate
customers in Europe, achieving global reach through
fundamentals of our strategy are:
at the heart of BT
solutions for multi-site organisations with European
clear network strategy, with unified management of
all UK networks
clear strategy for each customer group, including
new services and brand extension
skilled and motivated people.
Group plc is a public limited company registered in England
and Wales, with listings on the London and New York stock exchanges.
This is the annual report for the year ended 31 March 2003.
It complies with UK regulations and is the annual report on
Form 20-F for the Securities and Exchange Commission to meet
This annual report has been sent to shareholders who have elected
to receive a copy. A separate annual review and summary financial
statement for the year ended 31 March 2003 has been issued to
this annual report, references to "BT Group", "BT", "the group",
"the company", "we", or "our" are to BT Group plc (which includes
the continuing activities of British Telecommunications plc)
and its subsidiaries and lines of business, or any of them as
the context may require.
References to the "financial year" are to the year ended 31
March of each year, e.g. the "2003 financial year" refers to
the year ended 31 March 2003. Unless otherwise stated, all non-financial
statistics are at 31 March 2003.
Please see cautionary
statement regarding forward-looking statements.