Feeds

Vodafone cuts losses

Europe still a tough nut to crack, though

Top 5 reasons to deploy VMware with Tegile

Vodafone Group PLC said this morning that it has met expectations for its most recent financial year but conceded that market conditions remained difficult in Europe.

The mobile phone giant today posted results for the year ended 31 March 2007, which showed revenues up 6 per cent on the year to £31.1bn. The company managed to trim its operating loss from last year’s £14bn to a slightly more platable £1.6bn. This left it with a pre-tax loss of £2.3bn.

Vodafone said earnings per share rose 11.4 per cent to 11.26 pence, while total dividends increased by a healthy 11.4 per cent to 6.76 pence.

Earnings before interest, tax, depreciation and amortisation (EBITDA) was said to be up to £11.960bnn.

Vodafone said it expected group revenue for the coming year to be in the range of £33.3bn to £34.1bn, with adjusted operating profit in the range of £9.3bn to £9.8bn.

The firm said it was battling strong competition in key European markets.

"We expect market conditions to remain challenging for the year ahead in Europe, notwithstanding continued positive operating trends in data revenue and voice usage," said Vodafone CEO Arun Sarin in a statement accompanying the published results.

He added that Vodafone has signed agreements with Yahoo! in the UK, as well as providers in Germany and Italy with banner and content advertising seen as an important revenue stream for the business over the coming year.

Data revenue was said to have grown 30.1 per cent in the past year with the firm ramping up its Vodafone Live! service to integrate mobile and PC environments.

The firm attributed significant growth in emerging markets to the acquisition of Hutchison Essar in India, and Sarin said: "A key priority for the year ahead is to continue the expansion of the network and capture the growth opportunity in the market."

Vodafone topped the FTSE 100 index this morning with gains of 3.7 per cent. Shares are currently trading at 157.6 pence per share, up 4.10 per cent.

According to Reuters, traders have today been talking up the possibility of a bid for the firm from AT&T. However, Vodafone refused to comment.

More from Vodafone here. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.