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Vodafone posts pre-tax profit in FY17

Staff Writer |
Vodafone Group reported that its fiscal 2017 profit before tax was 2.79 billion euros, compared to last year's loss of 190 million euros.

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On March 20, the company announced an agreement to merge Vodafone India with Idea Cellular in India. As a result, Vodafone India is now excluded from Group figures.

On an after tax basis, the company recorded attributable loss of 6.30 billion euros, wider than last year's loss of 5.41 billion euros.

Basic loss per share was 22.51 euro cents, compared to loss of 20.25 euro cents a year ago.

Adjusted profit before tax was 3.27 billion euros, compared to 2.90 billion euros last year. Adjusted earnings per share from continuing operations were 8.04 euro cents, compared to 6.87 euro cents a year ago.

Group adjusted EBITDA remained stable at 14.1 billion euros.

Group revenue decreased 4.4% to 47.6 billion euros and service revenue decreased by 3.7% to 43.0 billion euros.

Further, the company announced final dividend per share of 10.03 euro cents, up 2.0%, giving total dividends per share of 14.77 euro cents.

Looking ahead, for fiscal 2018, overall, excluding Vodafone India the company expects to grow adjusted EBITDA on an organic basis by 4%-8%, implying a range of 14.0 billion euros to 14.5 billion euros at guidance FX rates.

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