Feeds

Vodafone writes off £5.9bn

Spanish practises cost dear

Intelligent flash storage arrays

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. ®

Security for virtualized datacentres

More from The Register

next story
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
MOST iPhone strokers SPURN iOS 8: iOS 7 'un-updatening' in 5...4...
Guess they don't like our battery-draining update?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.