Feeds

Vodafone writes off £5.9bn

Spanish practises cost dear

Next gen security for virtualised datacentres

Data and India saved the day at Vodafone, which is writing off £5.9bn, mainly due to problems in Spain.

For the year ended 31 March 2009 Vodafone made revenues of £41bn, up 1.3 per cent after favourable currency movements. Europe was up 13.6 per cent, Africa and central Europe up 11.2 per cent, while Asia Pacific and Middle East revenue jumped 32.3 per cent - mainly thanks to India. Operating profit was £11.8bn.

The mobile giant has speeded up its cost cutting programme and expects to achieve 65 per cent of planned £1bn savings in 2010.

Vittorio Colao, chief executive of Vodafone, said the results showed the firm had taken the right action at the right time, and he highlighted the £1bn in revenue from data.

In the UK service revenue fell 1.1 per cent, thanks to competitive pressure on voice revenues, although wholesale revenue, mainly ASDA and Lebara, grew.

Average monthly mobile revenue per user in the quarter was £20.80 in the UK, versus £21.60 in the same quarter of 2008. Germany was down to £15.70 compared to £16.90 in 2008.

Net debt is up to £34bn, mainly because of currency movements.

For the year Vodafone is hoping for adjusted operating profit of between £11bn and £11.8bn - the big spread reflects economic uncertainty.

The full figures are here. ®

Next gen security for virtualised datacentres

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
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
EE fails to apologise for HUGE T-Mobile outage that hit Brits on Friday
Customer: 'Please change your name to occasionally somewhere'
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
We need less U.S. in our WWW – Euro digital chief Steelie Neelie
EC moves to shift status quo at Internet Governance Forum
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?