The FTSE-100 stalwart reported revenue down 5% at £18.2bn for the year to the end of March, but adjusted pre-tax profit was up 11% on the previous year at £2.7bn.
Its strong results followed an announcement on Thursday that BT sports channels will be free to any BT broadband customer, marking the first time in more than 20 years weekly live premier league matches will be free to watch.
Described as a “master stroke” by one commentator it is predicted the move will lead to strong growth in the company’s broadband and BT Vision subscription base.
Shares in competitor BskyB were down 6% on Thursday, a reflection of the game-changer investors felt BT Group’s plan represented.
In the past year BT Group’s share price has climbed more than 40% and now stands at 275p. During the past 52 weeks it has peaked at 290p and troughed at 197p, posing the question if this latest news can see it top its previous high.
Yet, according to FE Analytics, not a single fund in the UK open-ended universe holds BT Group in its top ten positions.
Jonathan Jackson, head of equities at Kilik & Co, said: "Following today’s results, consensus upgrades are expected and the shares have responded positively this morning. BT currently trades on 11.0x FY2015 earnings, offering a prospective yield of 3.6%."
Market consensus prior to the results announcement was that the company would outperform the market and the stock is widely given a hold rating by analysts. Perhaps now is the time for investors to make their way back to BT.