holdings. He also took on the fundamental task of slowing revenue declines and remoulding BT into a business that generated higher profits.
In 2019, BT reported revenue of £23.459 billion, down 1 percent year-on-year and with profit before tax of £2.7 billion. In the latest full financial year ended 31 March 2023, revenue was £20.681 billion and profit before tax was £1.729 billion. During that same timeframe, the share price has fallen from £230 to £122.25.
According to Kester Mann, director of consumer and connectivity at CCS Insights, BT's boss was on"increasingly shaky ground at BT. The company's share has almost halved since he took over in early 2019, while inflammatory comments about the role of alt nets drew concern from Ofcom."[PDF] saying he welcomes competition and claiming his comments quoted in an FT article were taken out of context.
In the piece he was reported as saying:"There is only going to be one national network" and"Why do we need multiple providers?", which runs contrary to the competitive environment Ofcom wants to nurture. Mann added:"The CEO has endured a rollercoaster ride at BT. He presided over the operator's impressive response to the pandemic; embarked on a massive cost-saving drive; oversaw a major acceleration in the deployment of full-fiber; witnessedIn one of his more tone deaf moments, Jansen received a 30 plus percent pay rise in fiscal 2022 to £3.35 million.