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Wednesday, 9 November 2011

Vodafone profit in Turkey

Vodafone announced yearly profits are up thanks to strong growth in emerging markets and sustained growth in current strong markets for Vodafone.

The company experienced strong growth in India and Turkey, and produced strong results in Germany, Britain, and the Netherlands. Vodafone also raised its interim dividend by 7 percent on top of a special dividend from US company Verizon.

Vodafone naturally saw some decline in countries affected by the economic crisis, countries such as Spain, Italy, and Greece saw profits slip. Developing and strong nations such as Turkey are beginning to have more and more impact for Vodafone, these nations provide a healthy income for the company.

Analyst Will Draper said: “They’re really great numbers. Revenues are up 1 percent on the consensus and they’ve raised the operating guidance towards the top end of the range. So I think they’re pretty bullet proof.”

The company also moved its outlook for yearly operating profit to the top of its predicted results, changing the forecast from earlier this year to between 11.4 billion pounds and 11.8 billion pounds compared with 11 billion pounds to 11.8 billion pounds at the start of the year. CEO Vittorio Colao said: “We’re confident that we have the right strategy to continue to perform consistently through top line growth, cost efficiency, investment and cash generation.”

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