Feeds

Vodafone cuts losses

Europe still a tough nut to crack, though

Next gen security for virtualised datacentres

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
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.