The restructuring work atBT has started to deliver early gains after the UK telecoms company said that full-year profit would be at the higher end of its forecast range.
Shares in the company surged 10 per cent to 265.35p, their highest level in almost six months, as investors welcomed a better operational performance and a slightly bolder outlook.
The group said 2,000 staff in management and back office roles had left the company since May as part of a long-term restructuring plan that will ultimately result in 13,000 workers leaving the business over the next three years.
That helped to drive a 2 per cent rise in earnings before interest, taxation, depreciation and amortisation to 3.7bn in the first half as costs dropped 3 per cent….
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