BT 2015 Annual Report Download - page 83

81
Overview
The Strategic Report
Purpose and strategy Delivering our strategy 0ur lines of business Group performance
Governance Financial statements Additional information
Trend in underlying revenue excluding transit
Year ended 31 March
%
2012 20132011 2014 2015
(1.9) (3.0)
0.5
(3.1)
(0.4)
(3.5)
(3.0)
(2.5)
(2.0)
(1.5)
(1.0)
(0.5)
0.0
0.5
1.0
 onsuer revenue was up  with stron rowth in the broadband
and  custoer bases helped b  port. his rowth was oset b
declines in our other lines of business ainl reectin reulator price
chanes and lower UK public sector revenues. e eplain ore about the
perforance of our lines of business fro pae .
Underlin revenue reects the overall perforance of the roup that
will contribute to lon-ter profitable revenue rowth. e eclude the
ipact of acuisitions and disposals forein echane oveents and
specific ites fro this easure. e focus on the trend in underlin
revenue ecludin transit because transit trac is low arin and
aected b reductions in obile terination rates which are outside
our control.
Adjusted earnings per share
Year ended 31 March
pence
2012 20132011 2014 2015
23.4
20.7
28.2
26.3
0
5
10
15
20
25
35
30
31.5
dusted profit after ta rew 1 this ear reectin the ipact of
our cost transforation activities a lower interest epense and a lower
depreciation and aortisation chare toether with a reduction in the
eective ta rate fro 1. to 19.9.
dusted earnins per share rew 1 to 1.p. he weihted averae
nuber of shares in the aret increased  as a result of a lare all-
eploee share plan which atured in the suer and an euit placin
to support our planned acuisition of .
dusted earnins per share is the adusted profit after ta attributable
to our shareholders divided b the weihted averae nuber of shares
in issue. ein an adusted easure it ecludes the ipact of specific
ites and as such it is a consistent wa to easure the perforance of
our business over tie.
£m
2012 20132011 2014 2015
1RUPDOLVHGIUHHFDVKƮRZ
Year ended 31 March
1,900
2,100
2,300
2,500
2,700
2,900
2,300
2,307
2,076
2,830
2,450
he increase in our noralised free cash ow reects favourable worin
capital oveents includin the tiin of  port prorae rihts
paents in the prior ear rowth in  lower ordinar pension
contributions and lower ta and interest paents. hese were partl
oset b hiher net cash capital ependiture due to the tiin of rant
fundin cash receipts.
ree cash ow is the cash we enerate fro our operations less capital
ependiture and finance costs. t represents the cash available to invest in
the business repa debt support the pension schee and pa dividends
to our shareholders.
oralised free cash ow ecludes sinificant non-operational
paents and receipts that would distort the easure ear on ear.
o in calculatin noralised free cash ow we tae out the ipact of
specific ites purchases of telecounications licences pension deficit
paents and the ta benefit fro pension deficit paents.
10
5
15
20
%
Customer service improvement
At 31 March
0
10.5
3.0
3.0
(4.0)
4.7
18.7
1.5
2010 2011 2012 2013 2014 2015 2015a
e have iproved our custoer service this ear but we are not satisfied
and still want to do better. ll of our lines of business contributed to
this iproveent. e delivered sinificantl better repair perforance
and shorter lead ties for providin UK lines and broadband.  lobal
ervices ade lare ains in deliverin ore of its products within taret
ties. ooin forward we need to iprove our provision of thernet
services and recover ore uicl when we do fail to eet our proises.
iht irst ie is our e easure of custoer service. his tracs
how often we eep the proises we ae to our custoers. his could
be about eepin to appointent ties fiin faults within an areed
period or answerin calls proptl and dealin with ueries or orders
ecientl. s well as iprovin service and the custoer eperience
eepin our proises should ean that there is less wor to do in
correctin our istaes and so reduces our costs.
a Cumulative improvement from 1 April 2009.