Vodafone Group Plc reported a full-year loss of 5.43 billion
pounds ($10.8 billion) because of a regulatory change
in Italy and increased sales on emerging-market growth.
said fiscal 2008 sales will rise as much as 10 per cent
to 34.2 billion pounds and the company raised its dividend.
Newbury, England-based company had a record loss of 21.9
billion pounds in the previous year.
bought a controlling stake in India''s Hutchison Essar
Ltd. this month for $10.7 billion to make up for a slowdown
in Europe were hurt by a 3.5 billion-pound charge in Italy
after the government abolished fees for recharging prepaid
cards, Vodafone said in a statement.
forecast annual sales will rise to 33.3 billion pounds
to 34.2 billion pounds.
sales rose 6 per cent to 31.1 billion pounds. Earnings
before interest, tax, depreciation and amortization rose
1.6 per cent to 11.96 billion pounds.
increased its full-year dividend by 11 per cent to 6.76
at Vodafone''s European business fell 4.6 per cent to 9.33
billion pounds from 9.79 billion pounds as a drop in results
in Germany, the UK and Italy dragged on gains in Spain.
said its European markets will be ``challenging'''' in fiscal
2008 and growth prospects at its emerging market business
``remain strong'''' because of the potential for subscriber
gains and the company''s Hutchison Essar purchase.
at Vodafone''s emerging markets business jumped 37 per
cent to 2.04 billion pounds from 1.49 billion pounds.
the last year, Vodafone saw a ``reshaping'''' of its portfolio
with acquisitions in Turkey and India.
the purchase of a 67 per cent stake in India''s Hutchison
Essar, the country''s fourth-biggest wireless company,
for about $10.7 billion this month. Vodafone also bought
Turkey''s Telsim Mobil Telekomunikasyon Hizmetleri AS for
$4.55 billion last year.