Vodafone losses down but still not great at £5.43billion

Loss narrows at Vodafone Group – International Herald Tribune

Despite posting a second consecutive year of staggering losses, Vodafone Group on Tuesday forecast strong growth in emerging markets and was bullish about 2008, sending its shares to a five-year high.

The company, a European mobile phone giant, said it had a net loss of £5.43 billion, or $10.75 billion, in the 12 months ended March 31, a marked improvement from its loss of £21.9 billion a year earlier. Revenue increased 6 percent to £31.1 billion.

And here’s what Arun had to say..

Vodafone’s chief executive, Arun Sarin, said the company’s prospects looked brightest in high-growth emerging markets like Turkey and India. But he said mature European economies like Britain and Germany, where almost everyone has at least one mobile phone, would be squeezed by competition, government regulation and narrowing profit margins.