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Vodafone Group Pretax Profit Falls Reflecting Transitional Year

By Najat Kantouar


Vodafone Group's maintained its fiscal 2024 guidance despite reporting a lower pretax profit and revenue, reflecting the disposals of Vantage Towers, Vodafone Hungary and Vodafone Ghana in the prior financial year and adverse exchange-rate movements.

The U.K. telecommunications company said Tuesday that pretax profit for the year ended March 31 fell to 1.62 billion euros ($1.75 billion) from EUR13.07 billion.

Adjusted earnings before interest, taxes, depreciation and amortization after leases----which strips out exceptional and other one-off items--declined to EUR11.02 billion from EUR12.42 billion.

Group's revenue fell 2.5% to EUR36.72 billion from EUR37.67 billion.

Service revenue--a closely watched metric in the telecom sector--declined to EUR29.91 billion from EUR30.32 billion.

The board maintained a total dividend of 9.0 euro cents a share, including a final dividend of 4.5 euro cents a share.

Looking ahead, Vodafone still expects to report adjusted EBITDAaL and adjusted free cash flow of EUR11.0 billion and EUR2.6 billion respectively, excluding the financial results from Vodafone Spain and Vodafone Italy.


Write to Najat Kantouar at


(END) Dow Jones Newswires

May 14, 2024 02:53 ET (06:53 GMT)

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