Vodafone FY pretax little changed; sees challenging conditions in Europe |
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Tue, 29 May 2007 07:48
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LONDON (Thomson Financial) - Vodafone Group PLC reported underlying full year pretax profits little changed from a year earlier, as it forecast market conditions in Europe to remain challenging for the year ahead.The mobile operator said it has met or exceeded its expectations for the year in all areas, and it is confident of delivering its capital and operating expenditure targets in Europe in fiscal 2008, with its core cost reduction initiatives well on track.Vodafone's underlying pretax profit eased back to 8.75 bln stg from 8.79 bln.Citigroup had forecast an underlying headline figure of 8.66 bln stg.Including impairment charges of 11.6 bln stg, the pretax figure came in at a loss of 2.4 bln stg, compared with a loss including exceptionals of 14.9 bln stg a year earlier.For the year ahead, the company forecast revenues in a range of 33.3 bln stg to 34.1 bln stg, with adjusted operating profit of 9.3 bln to 9.8 bln stg.Vodafone increased its total dividend by 11.4 pct to 6.76 pence, with a final dividend of 4.41 pence.TFN.newsdesk@thomson.comfaj/jmsCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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