SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
13 July, 2005
BT Group plc
(Translation of registrant's name into English)
BT Centre
81 Newgate Street
London
EC1A 7AJ
England
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X... Form 40-F.....
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ________
Enclosures: 1. AGM Statement announcement made on 13 July, 2005
DC05-441 July 13, 2005
BT DELIVERING GROWTH THROUGH TRANSFORMATION
This release is a summary of the presentation given at BT Group's Annual General
Meeting in Harrogate by BT Chairman Sir Christopher Bland.
BT's strategy is delivering growth through transformation. That was the key
message delivered today by BT Chairman Sir Christopher Bland when addressing
shareholders at the company's Annual General Meeting in Harrogate, Yorkshire.
Describing last year as an "excellent year for BT", Sir Christopher highlighted
the strong growth in turnover, earnings per share, free cash flow and dividends:
-Turnover up 2 per cent (1)
-Earnings per share up 7 per cent (2)
-Free cash flow up 10 per cent
-Dividends up 22 per cent.
Sir Christopher said: "BT's strategy is working. That strategy is to transform
BT through generating strong and increasing revenues from our new wave services
- such as broadband and networked IT services - at the same time as defending
our traditional businesses such as voice telephony. Success in both areas
depends on building long-term partnerships with customers. It also depends on
having excellent infrastructure - and the 21st century network, in which we are
investing, will enable us to provide services which are both world-class and
cost effective."
Reviewing the year, Sir Christopher highlighted the 32 per cent growth in new
wave revenues, saying "BT is growing again". These revenues - from broadband,
networked IT services and mobility - grew to GBP4.5bn and now account for almost
a quarter of BT's total revenues. The 32 per cent(1) increase more than offset
the 5 per cent(1) decline in traditional revenues, something that has happened
for five quarters in a row.
(1) Excluding impact of acquisitions and mobile termination rate reductions
(2) Before goodwill amortisation and exceptional items
Referring to BT's dividend policy, Sir Christopher said this year's dividend was
five times greater than that of 2001/2 and reaffirmed that dividends are
expected to reach 60 per cent of earnings next year. He also said that, subject
to the company's overall financial position, BT expects the payout ratio to
reach two-thirds of underlying earnings by 2007/8.
Turning to the recently proposed regulatory settlement, he said: "The solution
is based on proposals BT made to Ofcom and which Ofcom has now accepted subject
to formal consultation. It has been a tough journey but the outcome is the right
one - regulation where it is needed: and de-regulation where it is not."
Sir Christopher also talked about BT's efforts to run our operations responsibly
and play a constructive role in society. He said: "That role has an important
environmental dimension because communications enable people to avoid travel and
therefore help to conserve energy and combat climate change."
Referring to BT's decision to sign the world's largest green energy contract, he
added: "What this means in practice is that almost all of BT's UK electricity
needs will be met from environmentally-friendly, sustainable sources, including
wind generation, solar, wave and hydroelectric schemes. This contract is
expected to enable BT to avoid 325,000 tonnes of carbon dioxide emissions each
year, equivalent to the amount produced by more than 100,000 cars."
Summing up, Sir Christopher said: "Our most lasting contribution to society will
be the one we make through transforming the way people communicate in homes,
businesses, offices, factories, schools and hospitals throughout Britain and
beyond. The activities and results we have achieved in 2004/5 show that we are
leaders in building this new communications landscape."
Inquiries about this news release should be made to the BT Group Newsroom on its
24-hour number: 020 7356 5369. From outside the UK dial + 44 20 7356 5369. All
news releases can be accessed at our web site: http://www.bt.com/newscentre.
About BT
BT is one of the world's leading providers of communications solutions serving
customers in Europe, the Americas and Asia Pacific. Its principal activities
include networked IT services, local, national and international
telecommunications services, and higher-value broadband and internet products
and services.
BT consists principally of three lines of business:
-BT Retail, providing a comprehensive range of communications and related
services to more than 20m UK consumers and businesses.
-BT Wholesale, providing network services and solutions within the UK to more
than 600 fixed and mobile operators and service providers including the
provision of broadband and private circuits.
-BT Global Services, providing networked IT services to meet the needs of
multi-site organisations globally. BT Global Services operates in more than 130
countries and also offers international carrier services.
In the year ended 31 March 2005, BT Group's turnover was GBP18,623 million with
profit before goodwill amortisation, exceptional items and taxation of GBP2,085
million.
BT Group plc is listed on stock exchanges in London and New York. British
Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and
encompasses virtually all businesses and assets of the BT Group.
For more information, visit www.bt.com/aboutbt
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
BT Group PLC
(Registrant)
By: /s/ Patricia Day
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Patricia Day, Assistant Secretary. Head of Shareholder Services
Date 13 July, 2005