India and the Brexit are to blame for the loss of six billion dollars – still, the British communications giant Vodafone is raising its dividend. Now black Figures again.
Vodafone has made in its past financial year to the end of March with a loss of 6.3 billion euros. The primary reason for this depreciation in India had been informed Vodafone on Tuesday. Thus, the company increased its loss from the previous year, even at the time of 5.4 billion euros had been negative.
The total turnover of the group decreased in the past fiscal year by more than four percent to 47.6 billion euros. It also currency effects, according to Vodafone debt. Because Vodafone is a large part of its business on the European continent, carried in the balance sheet, the company is now in the Euro, makes its operations in the UK, but in pounds. The pound fell after the Brexit decision, but it is strong – therefore comes from the home of Proceeds to the conversion in the balance sheet less and less.
Vodafone advertising in New Delhi
Tag in India, cost of
In India, the global second-largest Telecom market, had to Vodafone to write off in the past fiscal year, the reported 3.7 billion euros. The business brought because of the lively competition for far less money than planned.
Vodafone has been operating since 2007 in India and generates more than ten percent of sales. Since September of 2016, but Reliance Industries is under the brand Jio in the Indian Telecom market and has him thrown duly by each other.
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The richest man in the country, Mukesh Ambani controlled company is trying with a savings offered to take market share from the established companies. As a reaction merged Vodafone in March 2017, the subsidiary Vodafone India with the competitors, India Cellular. The new company, Vodafone only holds 45.1 per cent.
Optimism for the current year
In the UK, business was bad, Vodafone lost customers. Germany and Italy, by contrast, showed good Numbers. In the Region of Africa, the middle East and Asia-Pacific business was also good, however, negative currency effects would have neutralized the increase in sales, said Vodafone.
For the current year, the British company predicted given the stability of revenues with its contract customers and reduced spending, but growth again. The optimism will also be demonstrated by an increase in the dividend, said CEO Vittorio Colao.
iw/hb (afp, rtr, dpa)