Day: July 9, 2026

Female CEO Allison Kirkby is pressing BT Group’s turnaround through tighter costs, faster fibre rollout, and a narrower operating focus. The company’s latest results show revenue pressure, but also stronger savings targets, record fibre connections, and a clearer plan to lift cash flow after years of heavy network spending.

Key Takeaways

• Allison Kirkby became BT Group’s first female CEO after being appointed in July 2023 and taking over in early 2024.
• BT Group reported £19.7 billion in revenue for the year ended March 31, 2026, down 3 percent year over year.
• The company raised its overall transformation savings target from £3.0 billion to £3.7 billion.
• Openreach reached 23 million full fibre premises and remains on track for 25 million by December 2026.
• BT Group and Verizon announced a 50:50 international enterprise joint venture in June 2026.

BT Group is trying to improve performance at a time when revenue remains under pressure and network spending remains central to the business. For the year ended March 31, 2026, the company reported revenue of £19.7 billion, down 3 percent, while adjusted revenue fell 4 percent to £19.6 billion. Adjusted EBITDA was £8.2 billion, flat year over year.

Allison Kirkby has framed the company’s current phase around execution rather than broad expansion. BT Group said it delivered on financial guidance for the year and remained on track for about £2.0 billion in normalized free cash flow in FY27 and about £3.0 billion by the end of the decade.

The central question for the company is whether a leaner operating base can support better cash generation while BT Group completes its full fibre rollout. That makes cost control one of the clearest markers of the turnaround.

Savings Are Now A Core Measure

BT Group said its transformation program delivered £580 million in gross annualized cost savings during FY26. The company said total savings over two years reached £1.5 billion, and it raised its overall transformation target to £3.7 billion from £3.0 billion.

The savings target matters because BT Group is working through a capital-heavy infrastructure cycle. The company must keep funding fibre expansion while facing competition, customer migration pressure, and lower revenue in some business areas.

What Makes Allison Kirkby’s Role Significant?

Allison Kirkby was appointed chief executive of BT Group on July 31, 2023. The company said she would take over from Philip Jansen by the end of January 2024 at the latest. Before BT Group, she served as president and CEO of Telia Company.

Her appointment drew attention because she became the first woman selected to lead BT Group. The role placed her at the center of one of the United Kingdom’s largest telecom businesses during a period shaped by fibre buildout, workforce reductions, and business simplification.

The case is less about personality and more about structure. BT Group is operating in a mature telecom market where growth is difficult, customer expectations remain high, and network costs are substantial. That makes the company a useful example of how a large legacy operator tries to reset around fewer priorities.

A similar pattern can be seen in broader corporate leadership discussions, where boards are placing more weight on operational discipline during a leadership turnover trend across major organizations.

How Is Openreach Shaping The Turnaround?

BT Group’s Openreach business remains one of the most important parts of the story. The company said Openreach added 4.8 million fibre to the premises locations in FY26, bringing the total footprint to 23 million premises. That figure included 6.3 million premises in rural areas.

BT Group also said Openreach remained on track to reach 25 million premises by December 2026. The fibre rollout is central because it gives the company a path away from older copper infrastructure and into higher capacity broadband service.

Connections Show Progress, But Line Losses Remain

Openreach recorded 2.2 million net fibre to the premises additions during the year, bringing total connected premises to 8.8 million. BT Group said take-up among major fibre providers was above 38 percent.

The company also reported 825,000 Openreach broadband line losses for the full year. That was slightly better than its guidance of about 850,000, but it still shows the competitive pressure facing the business. BT Group expects about 800,000 line losses in FY27.

Those figures keep the turnaround grounded. Fibre expansion is moving forward, but customer migration and market competition still affect the pace of recovery.

Where Is BT Group Seeing Customer Pressure?

BT Group reported customer growth in its Consumer division across broadband, postpaid mobile, and TV. The company said broadband customers increased by 26,000, postpaid mobile customers rose by 104,000, and TV customers increased by 72,000.

The pricing picture was more restrained. Consumer broadband average revenue per user fell 1 percent to £41.7, while postpaid mobile average revenue per user also fell 1 percent to £19.3.

That mix reflects the challenge for a telecom operator in a mature market. BT Group can add customers in some areas, but it still has to manage pricing pressure, service costs, and competition from other providers.

For older companies with complex systems, a systems overhaul can become part of the broader effort to reduce strain, speed up service, and avoid unnecessary operating drag.

Why Does The Verizon Deal Matter To BT Group’s Focus?

BT Group and Verizon announced in June 2026 that they planned to combine their international enterprise operations into a 50:50 joint venture. Reuters reported that the new venture is expected to serve more than 3,000 clients in more than 180 countries and generate about $4 billion in annual revenue.

The transaction fits BT Group’s stated direction under Allison Kirkby. The company has been trying to simplify its operating model, sharpen its focus on the United Kingdom, and reduce the complexity tied to global enterprise services.

Reuters also reported that Verizon would pay BT Group a $625 million equalization fee and that Martijn Blanken, a former Telstra and KPN executive, had been named CEO-designate of the planned venture.

The deal does not remove all pressure from BT Group’s domestic business. It does, however, show how management is trying to separate parts of the company that require different scale, capital, and execution models.

Frequently Asked Questions

Who is Allison Kirkby?

Allison Kirkby is the chief executive of BT Group. She was appointed in July 2023 and became the company’s first female CEO after taking over from Philip Jansen.

What is BT Group’s turnaround focused on?

BT Group’s turnaround is focused on cost discipline, full fibre expansion, customer retention, and a simpler business structure. The company raised its transformation savings target to £3.7 billion.

What is Openreach’s role in BT Group’s strategy?

Openreach operates BT Group’s access network and is central to the company’s full fibre rollout. BT Group said Openreach reached 23 million fibre premises in FY26 and remains on track for 25 million by December 2026.

Why is the Verizon joint venture important?

The Verizon joint venture is important because it helps BT Group reshape its international enterprise operations. The planned 50:50 venture is expected to serve more than 3,000 clients across more than 180 countries.