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Tuesday, May 22, 2012

Vodafone announces ’robust’ annual results

VodafoneVodafone has announced its financial results for the year until 31st March 2012, describing it as “robust financial performance in a difficult environment”. Revenue was up 1.2% on last year to £46.4 billion, although profit for the financial year was down 11% to £7.87 billion. The company sold its share of French network SFR last year.

In the UK there are now 19,167,000 Vodafone mobile customers, with 46.2% on prepay deals. In total, the Vodafone Group is responsible for over 439 million mobile connections worldwide.

Vittorio Colao, Chief Executive of the Vodafone Group, said “Our focus on the key growth areas of data, emerging markets and enterprise is positioning us well in a difficult macroeconomic environment. Our commercial performance and our ability to leverage scale continue to be strong, enabling us to gain or hold market share in most of our key markets, and reduce the rate of margin decline. Our robust cash generation and the dividend received from Verizon Wireless have enabled us to translate this operational success into good returns for shareholders. Our goal over the next three years is to continue to strengthen our technology and commercial platforms through reliable and secure high speed data networks, significantly enhanced customer service across all channels, and improved data pricing models, to enrich customers’ experience and maximise our share of value in the markets in which we operate.”

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