Feeds

Vodafone writes off £5.9bn

Spanish practises cost dear

Internet Security Threat Report 2014

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. ®

Business security measures using SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
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?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.