Vodafone Posts Strong Gains in Revenue, Core Earnings
Tuesday May 27, 4:00 am ET
biz.yahoo.com
A Wall Street Journal Online News Roundup
LONDON -- Vodafone Group PLC Tuesday reported a net loss of 9.82 billion pounds ($16.08 billion or 13.55 billion euros) for its latest fiscal year, hurt by a 14.06 billion pound goodwill write-down.
But the United Kingdom mobile-phone operator said its profit before tax, goodwill amortization and exceptional items for the year ended March 31 rose 36% to 8.43 billion pounds from 6.20 billion pounds for the prior fiscal year.
Revenue increased 33% to 30.38 billion pounds from 22.85 billion pounds.
Vodafone, one of the world's largest mobile-phone operators, said its earnings before interest, tax, depreciation and amortization, or Ebitda, increased 40% to 11.22 billion pounds from 8.03 billion pounds.
Analysts had expected Vodafone to report Ebitda of 11.51 billion pounds, according to a survey of 10 brokerage firms by Dow Jones Newswires. That survey also showed an average revenue forecast of 31.96 billion pounds.
"We achieved strong year-on-year growth in operating profit, before goodwill amortization and exceptional items, adjusted earnings per share, Ebitda and free cash flow," said Sir Christopher Gent, Vodafone's chief executive.
The company declared a total dividend for the year of 1.6929 pence, compared with a year-earlier 1.4721 pence. |
