BT Group reported higher revenue for its fiscal Q1 2024 (to 30 June) and reiterated its full year outlook after being boosted by price rises and demand for broadband services.

In a trading update, outgoing CEO Phillip Jansen stated BT had made a strong start to the year in what remains a very competitive market.

“We continue to drive transformation across the group, and while there remains much to do, it’s clear that our strategy is working and BT Group is set up for success.”

BT reported revenue grew 4 per cent year-on-year to £5.2 billion, as infrastructure unit Openreach recorded an 8 per cent uplift to £1.5 billion.

The Consumer unit that houses mobile business EE booked a 3 per cent rise in revenue to £2.4 billion, with the Business division on £2 billion, also up 3 per cent.

BT does not break out net profit figures in trading updates.

The operator noted its FTTP footprint reached 11 million premises by the close of the quarter, with 44 per cent of an ambitious fibre deployment completed.

It highlighted declines in Global and Wholesale due to higher costs and declines in legacy contracts.