Organic service revenue growth picks up at Vodafone
Mobile phone networks giant Vodafone is expecting underlying growth in adjusted operating profit and stability in free cash flow in the current financial year.
Mobile phone networks giant Vodafone is expecting underlying growth in adjusted operating profit and stability in free cash flow in the current financial year.
In the year just gone (ending March 31st), group revenue rose 1.2% from a year earlier to £46.4bn, slightly ahead of forecasts of £46.3bn. Organic service revenue growth over the full year was 1.5%, with the fourth quarter seeing an acceleration in growth to 2.3%.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was down 1.3% from a year earlier at £14.5bn while the EBITDA margin eased 0.8 percentage points to 31.2%.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Adjusted operating profit at £11.5 billion, was up 2.5%* on an organic basis. Adjusted operating profit in the current year is expected to be in the range of £11.1bn to £11.9bn, reflecting the weaker euro offset by continued profit growth from Verizon Wireless, its US associate company.
Free cash flow expected to be in the range of £5.3bn to £5.8bn, reflecting the weaker euro and the loss of the dividend from mobile phone company SFR, now wholly owned by Vivendi.
The total dividend pay-out for the year has been increased to 9.52p, excluding the special dividend of 4p paid in respect of the Verizon Wireless distribution.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Premium Bonds winners announced – did you scoop the September jackpot?
NS&I has announced the winners for September’s Premium Bonds prize draw, with two lucky savers becoming overnight millionaires. Did you win this month?
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy