Chris Alliott
Chris Alliott
appear bang cash flow glance line lower margin rating results sell slightly taken unlikely weakness
BT's 2Q 05/06 results would appear at first glance to be bang in line with our below-consensus expectations. But slightly more-than-expected margin weakness and lower cash flow is unlikely to be taken well. Our sell rating is maintained.
hard hit investors likely lower operators raise second sentiment warning
Sentiment is likely to be hit hard ... Investors were disappointed by the warning in October, as it was one of the first operators to lower expectations. This second hit to expectations is only likely to raise more questions.
believe confirm received results strong
We believe these are strong results from BT and that they should be well received by the market... there is more to BT than revenues. We believe these results from BT confirm that view.
believe solid
We believe these are a solid set of figures.
cash currently deal simple
The O2 shareholders currently have a clean, simple cash deal on the table.
division global goes intense pricing providing pure remain services strength
The Global Services division goes from strength to strength, providing BT with diversification away from pure telecoms services that remain under intense pricing pressure.
division global goes intense pricing providing pure remain services strength
The Global Services division goes from strength to strength ... providing BT with diversification away from pure telecoms services that remain under intense pricing pressure.