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Vodafone rings up a record 32bn net loss.
(From Irish Independent)
MOBILE phone giant Vodafone Group had a record net loss of GBP21.9bn (32bn) in the year ending March 31, the largest ever for a UK-based company.
But share prices rose after the company announced it would be returning an additional GBP3bn (4.4bn) to shareholders.
The company also confirmed that it expects to cut more than 400 positions in its corporate centre in England. At its Irish operation, average spending by customers fell as talk time increased, which the company said was due to falling phone call costs. In the highly competitive Irish market, customer numbers increased to 2.075m, a jump of 123,000.
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