BT Group, a major telecommunications company, has been downgraded by Citi, leading to a significant 20% drop in its stock value. This downgrade reflects concerns over the company’s future profitability and market position. Despite this, BT Group reported a 1% increase in revenue for the last quarter, reaching £5.2 billion. However, operating costs rose by 3%, squeezing profit margins. The company’s net debt also increased to £18.9 billion, up from £17.6 billion the previous year. These financial pressures, combined with competitive market dynamics, have prompted analysts to adjust their outlook on BT Group’s stock.
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