Vodafone chuffed with pleasing figures
Emerging markets, smartphone data were their friends
Vodafone shares are up two per cent this morning on a solid set of figures for the year.
The UK's largest mobile company said data and services revenues helped boost sales by 3.2 per cent to £45.9bn.
Adjusted operating profit was £11.8bn, up 3.1 per cent. Ebitda was down 0.4 per cent to £14.7bn.
Africa, Middle East and Asia Pacific grew most - up 20 per cent to £12.3bn. Revenues in Europe fell 3.4 per cent to £30.1bn
Revenue from data grew 26.4 per cent, pushed by continued take up of smartphones - up from 11.6 per cent to 18.7 per cent in Europe.
For 2012 Voda expects profits of between £11bn and £11.8bn.
But it warned that European Union action on termination rates would hit service revenues by 2.5 per cent.
Perhaps now, they can pay the rest of the tax that they owe.
Tax Avoiding Scum
In effect a large slice of that profit has been stolen from the British Tax Payer and all the other EU Tax payers they should be paying as well.
Would be interesting to see how much tax they will pay on that figure. And which small tax free country they will pay it through.
So when you hear of services being cut and people losing their jobs. You know where to look for the money to make up the shortfall.
Come on aVodaTax tell us where your tax will be paid this year?
How many of those complaining about tax avoidance have bought goods online from HMV, Play, CD-Wow, Amazon, Tesco, Asda, 7DayShop, etc???
Hmmm, that would be you commiting tax avoidance too (importing goods from a low tax regime, avoiding paying UK import duty and VAT).
Until the world agrees on a unified tax system, tax avoidance will remain a valid business profit mechanism. If you don't like it, don't bleat on here about it - vote to change the government.
(expecting down votes, but the truth hurts)
Having a smartphone on Vodafone
is the equivalent of having a Ferrari but using a donkey to pull it from a to b, the 500MB data cap made no difference to me, I can very rarely get anything resembling a decent download speed and I live and work in central London. 5 months and counting until I'm off of their network.
[Hopefully convincing title here]
The tragic thing about that is most people don't really care, because their own lives are difficult and complicated enough.
Also, there's the knock-on effect from tax avoidance that, logically, they can afford to lower prices more then their competitors, which undoubtedly masks the tax avoiding devil underneath for most consumers, as they can barely afford anything nowadays.
I'm not saying that people are ignorant and selfish; it's just many won't have a choice.