BT celebrates 30 years as a listed company
Tony Chanmugam, Group Financial Director, BT Group plc officially opened the London Stock Exchange (LSE) on Wednesday 3 December 2014 to mark the 30th anniversary of the company’s listing. Mr Chanmugam was joined at the opening ceremony by a small group of investors, analysts and employees.
British Telecommunications floated on the LSE 30 years ago with an offer of 3,012,000,000 ordinary shares, just over half of the total shares in issue. The offer price of 130p per share implied a market capitalisation of £7.8 billion. Today, BT has a share price of around 400p and a market capitalisation of around £32 billion. Since the listing, BT shares have delivered a total shareholder return of over 1600%.
BT is one of the world’s leading communications services companies, serving the needs of customers in the UK and in more than 170 countries worldwide. Its main activities are the provision of fixed-line services, broadband, mobile and TV products and services as well as networked IT services.
In the UK it is a leading communications services provider, selling products and services to consumers, small and medium sized enterprises and the public sector. It also sells wholesale products and services to communications providers in the UK and around the world. Globally, it supplies managed networked IT services to multinational corporations, domestic businesses and national and local government organisations. BT consists principally of five lines of business: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach. In FY 2014/15, BT’s reported revenue was £18,287m with reported profit before taxation of £2,312m.
When BT was floated 30 years ago it was the first flotation of a public utility. Today is a significant milestone in BT’s history as the world’s oldest telecommunications company, a story reaching back almost 170 years.