Vodafone Scoops £46 Billion Revenue, But Profit Down

Vodafone has announced its annual results for the fiscal year which ended on the 31st of March, with global revenue up 1.2 per cent year-on-year to £46.4 billion.

However, the firm's European revenue faltered, down 0.6 per cent to just a whisker under £30 billion. The Eurozone crisis hasn't helped the company.

Vodafone's adjusted operating profit came in at £11.5 billion, which was 2.4 per cent down on the previous year.

However, Vodafone noted the strength in Verizon Wireless, with service revenue up 7.3 per cent, and Voda's share of those profits was 9.3 per cent, which amounted to almost £5 billion.

Vodafone also stated that it had a free cash flow of some £6.1 billion.

Looking to fiscal 2013, the operator reckons that its adjusted operating profit will be around £11.1 to £11.9 billion, reflecting the weaker Euro, with cash flow expected to decrease to around £5.3 to £5.8 billion.

Vittorio Colao, Group Chief Executive, said: "Our focus on the key growth areas of data, emerging markets and enterprise is positioning us well in a difficult macroeconomic environment."

"Our commercial performance and our ability to leverage scale continue to be strong, enabling us to gain or hold market share in most of our key markets, and reduce the rate of margin decline. Our robust cash generation and the dividend received from Verizon Wireless have enabled us to translate this operational success into good returns for shareholders."