Vodafone writes off £5.9bn

Data and India saved the day at Vodafone, which is writing off £5.9bn, mainly due to problems in Spain. For the year ended 31 March 2009 Vodafone made revenues of £41bn, up 1.3 per cent after favourable currency movements. Europe was up 13.6 per cent, Africa and central Europe up 11.2 per cent, while Asia Pacific and Middle …

[PaulK]

Robbing Bastards

Vodafone's own network in Turkey - me a Vodafone UK customer, with Passport no less.

£1.89 to call home. £1.29 to receive a call. And they're making a loss there?! And don't get me started on data roaming...

[techguy110323]

Holy crap.

"Net debt is up to £34bn, mainly because of currency movements."

That's scary.

Don't even have anything to show for their debts.

[TeeCee]

Problems in Spain?

I don't suppose that would be anything to do with trying to take on O2^H^HTelefonica with their fullyindependantandnotsubsidisedbythegovernmentwitheuropeanmoneyatallthatwouldbeillegal backing?

[DarkHorseDre]

Currency kills!

Every company has experienced loss where they rely/trade in specific currencies which are currently mostly weak.. that figure will move along the stated scale as currency values shift - likely to be in vodafones favour sometime soon so I know they're not bothered!

@ PaulK - yeah voda are a multi-national for a reason - they are raking it in! (My Orange cant offer me anything when I travel!)

Interestingly though, voda reckon they are scrapping roaming charges this year (to certain destinations!) - if they include enough euro countries, it will be *interesting*!

ps - didnt voda charge a minimum 75p for each call under an hour on passport? I called my mate simon and hung up 5 times within 30 seconds = ££££ lol!

Paris Hilton doesnt understand the losses at Voda either