Mobile phone operator Vodafone Group expects underlying operating profit to remain flat or decline in the coming year, even though the company is ahead of its plan to cut
Vodafone reported revenue of
Net profit for the year, at
Excluding the effects of the impairment charge and some other, smaller adjustments, Vodafone said adjusted profit for the year rose 36.6 percent, to
Vodafone is now less certain about what the future holds. For the year to March 31, 2010, it has widened its outlook for adjusted operating profit to between
This gloom is despite the company's faster-than-expected progress with its
Revenue from voice calls and messaging is lower in more mature European and Central European markets, as a result of continuing price declines and also lower usage, something Vodafone blamed on the recession.
Prospects in Europe and Central Europe continue to be dim, but Vodafone expects revenue growth to continue in emerging markets, especially India and Africa.
But there is also good news from other parts of the world. Results in Africa and India, where Vodafone added 24.6 million subscribers, remained robust, according to the company.
Data service revenue worldwide was also up by 43.7 percent, and now totals