Turning to cost. We reduced operating cost by GBP 314 million in the quarter and by around GBP 700 million or 6% for the 9 months. Gross labor cost reduced by GBP 124 million or 3% for the 9 months. This was partly offset by higher leaver cost, which increased by GBP 32 million, as more people participated in the leaver schemes within Openreach and BT Operate. The amount of labor cost that is capitalized has come down, which meant that overall net labor costs reduced by GBP 51 million or 1%. Other costs have reduced by GBP 655 million or 9% in the 9 months, driven by low transit revenues and as a result of our cost transformation activities.Read the rest of this transcript for free on seekingalpha.com
BT Group Plc's CEO Discusses Q3 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.