Vodafone has reported a revenue of £44.72bn for the financial year 2010, an increase of 8.4% compared to £41.02bn for the same period last year.
The company posted an operating profit of £9.48bn, an increase of 61.9% compared to £5.86bn for the previous year. Group EBITA increased by 1.7% to £14.74bn from £14.49bn in 2009.
For the financial year, the company reported a profit of £8.62bn, an increase of 179.8% from £3.08bn last year. Basic earnings per share were £16.44, up 181.5% from £5.84.
Segment wise, the company’s voice revenue totaled £28.01m in FY10. Messaging revenue, data revenue, fixed line revenue and other service revenue all posted positive growth, increasing to £4.8bn, £4.05bn, £3.29bn and £1.58bn, respectively.
Vittorio Colao, chief executive at Vodafone, said: “Vodafone’s financial results exceeded our upgraded guidance on all measures. Revenue trends have improved again in Q4 driven by growth in mobile data and fixed broadband.
“Cost reduction targets were delivered ahead of schedule enabling commercial reinvestment to improve market share and further strengthen our technology platforms. Free cash flow of £7.2bn and confidence in Vodafone’s prospects have enabled us to increase dividends by 7% and to target 7% per annum growth in total dividends per share for the next three years.”
The company expects to return to low levels of organic revenue growth during the 2011 financial year and estimates EBITDA margins to decline at a significantly lower rate than that experienced in the previous year. It predicts adjusted operating profit to be in the range of £11.2bn to £12.0bn.
