Published: Tue, May 16, 2017
Money | By Armando Alvarado

Britain's Vodafone reports net loss of 6.1 bln euros

Britain's Vodafone reports net loss of 6.1 bln euros

The company said it delivered total dividends per share of 14.77 euro cents for the year ended March 31, up 2 percent.

Chief executive Vittorio Colao said: "Our focus on excellence in customer experience has enabled further improvements in our overall commercial and financial performance during the year".

On March 20, the company announced an agreement to merge Vodafone India with Idea Cellular in India.

"The proposed merger of Vodafone India and Idea Cellular will create a new champion for Digital India, while capturing synergies with an estimated net present value of $10bn".

Vodafone Group plc (VOD) shares rose to the top of the FTSE 100 leaderboard Tuesday after a bullish 2018 outlook offset weaker-than-expected full year profits and slowing revenues.

Earnings per share were largely flat at €14.1bn and its dividend per share is 2% higher at 14.8cents per share - which is positive news for the thousands of Irish shareholders of Vodafone, dating back to the flotation of Eircom in the late 1990s.

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The latest annual results included an impairment charge of 3.7 billion euros, mainly recorded in respect of the company's investment in India.

Following the deal, Vodafone added today it had partially reversed the Indian impairment - but it still stood at €3.7 billion over the year. Vodafone's second half of the year earnings were up 6.3 per cent.

Group revenue decreased 4.4 percent to 47.63 billion euros from 49.81 billion euros a year ago, primarily due to foreign exchange movements.

He said the company, whose subscriber base grew to 209 million, recorded a 0.7 per cent gain in its revenue market share to 22.7 per cent as of December 2016 quarter. Adjusted EBITDA including India on a guidance basis up 3.4 percent to 15.8 billion euros.

As of 08:37 BST, Vodafone's share price had added 3.22 percent to 217.90p, outperforming the broader London market, with the benchmark FTSE 100 index now 0.28 percent better off at 7,475.34 points.

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