LONDON-Vodafone Group plc reported a 10-percent increase in revenue for the fiscal year ended March 31, but a net loss of $16.3 billion. The global carrier added 13.7 million new mobile customers during the year, brining its total to 133.4 million subscribers.
The company said its profit before tax, goodwill amortization and exceptional items was $18.1 billion. Vodafone reported mostly strong metrics in all its markets except Japan, where it continues to lag behind rivals NTT DoCoMo Inc. and KDDI Corp.
Vodafone also said it will buy the minority stakes in its Japanese units for $4.5 billion, a strategy it has employed in other markets where it does not have full control. Vodafone K.K., the Japanese subsidiary, plans to cut 600 jobs though a voluntary retirement program.
