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Vodafone posts full-year loss of $40.7B

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Started by sporkguy , Jun 01 2006 06:00 PM

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#1
sporkguy
Posted 01 June 2006 - 06:00 PM

sporkguy

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Quote

LONDON - Vodafone Group PLC on Tuesday reported a full-year net loss of 21.9 billion pounds ($40.7 billion), but its stock closed unchanged the mobile-phone carrier announced it would return an additional 3 billion pounds ($5.6 billion) to shareholders.

The loss for the fiscal year ending March 31 reflected a 23.5 billion pound ($43.7 billion) charge for the continuing writedown of assets bought during a spree of acquisitions in 1999-2000. It compares with a profit of 6.4 billion pounds attributable to equity shareholders in the previous year.

Earnings per share before exceptional items rose 13 percent to 10.11 pence (19 U.S. cents) in the latest quarter, broadly in line with analysts' expectations.

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#2
Dr Who
Posted 01 June 2006 - 06:54 PM

Dr Who

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Corporate profligacy - shocking isn't it.

I just can't believe that 'trained professionals' could have thought that the businesses at the end of the 90's were really worth that much. One would think that Joe Public might be fooled by a stock market bubble but these people are meant to be experts. WTF is 'sentiment' in the market - thats akin to saying, "I've just had a red hot tip from a jockey"..........absolutely beggars belief.

And I know that this money never actually existed in any real sense but I would imagine ?20 Billion is probably the GDP of, what, the bottom 100 countries in the world.

Ever get the feeling you've been conned..........

#3
sporkguy
Posted 01 June 2006 - 07:21 PM

sporkguy

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Its a sad truth.
Up here in the midlands, Voda shops are always empty when you walk past them, and they seem to overspend in advertising in the area despite the fact nobody buys!

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