LONDON-Vodafone Group plc reported growing revenues and earnings in its full-year results. Sales were up 14 percent to $55.7 billion, and free cash flow more than doubled to $8.5 billion for the year ended March 31.
The news follows last week’s announcement by Vodafone competitor MmO2 that it will write down $9.7 billion on its third-generation licenses. Vodafone did not write down its 3G assets, but did post a loss for the financial year of $16.1 billion compared with $26.5 billion for the prior year.
Vodafone said its dividend increased 15 percent to $1.47 per share. The world’s largest operator had proportionate registered customers of 119.7 million at the end of March.
Vodafone’s Japanese subsidiary J-Phone said it will migrate to the Vodafone brand by October. The Japanese operator has been using a dual J-Phone Vodafone logo since December 2001.
J-Phone said in its financial results that it increased operating revenue 8.1 percent and added market share due to the success of its Sha-Mail picture and video messaging services.
Vodafone is reported to be in discussions regarding the sale of its holdings in Japan Telecom, the fixed-line operator.
