BT earnings Q2 2018

Britain’s BT Group reported an increase in its first-half earnings Thursday and upgraded its guidance for the full-year.

The biggest telecom firm in the U.K. posted profit before tax of £1.3 billion for the six months to end September 30, up 2 percent year-on-year as growth picked up in consumer business.

Late last month, BT announced the appointment of Worldpay boss Philip Jansen as its new chief executive. Jansen is due to replace Patterson on January 1 2019, following a brief handover period.

In June, Patterson announced he would stepping down as CEO on the back of an investor backlash after the company unveiled plans to cut 13,000 jobs in a bid to cut costs.

Shares of BT are down more than 13 percent year-to-date.

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