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From the News Desk
Friday, 1. September 2006
Vodafone Posts 21.92 Bln Pounds Loss in 2005/06
Vodafone has posted an annual net loss of 21.92 billion pounds (31.98 billion euros, 41.11 billion dollars) in the year ending March 31, compared with a net gain of 6.41 billion pounds during 2004-05.
The loss was mainly a result of the write-down of assets bought at the height of the telecoms bubble.
Pre-tax losses were 14.853 billion pounds, compared with a profit of 7.285 billion pounds the previous financial year. Excluding one-off charges, net profit rose as the group added 21.5 million customers during 2005-06.
Excluding the charges, the group raised net profit by 6.8 percent to 6.33 billion pounds. Group revenue jumped 10 percent to 29.35 billion pounds, while underlying pre-tax profits advanced 12.3 percent to 8.793 billion pounds.
The group has sold Japanese unit Vodafone K.K. to Japanese Internet group Softbank Corp. for about 8.9 billion pounds.
The loss was mainly a result of the write-down of assets bought at the height of the telecoms bubble.
Pre-tax losses were 14.853 billion pounds, compared with a profit of 7.285 billion pounds the previous financial year. Excluding one-off charges, net profit rose as the group added 21.5 million customers during 2005-06.
Excluding the charges, the group raised net profit by 6.8 percent to 6.33 billion pounds. Group revenue jumped 10 percent to 29.35 billion pounds, while underlying pre-tax profits advanced 12.3 percent to 8.793 billion pounds.
The group has sold Japanese unit Vodafone K.K. to Japanese Internet group Softbank Corp. for about 8.9 billion pounds.
