Vodafone Group posts 19% profit rise

Vodafone Group this morning reported a 19 per cent rise in its annual profits.

Vodafone Group this morning reported a 19 per cent rise in its annual profits.

It also rewarded shareholders for their loyalty during its failed $41 billion bid for AT&T Wireless with an increased share buy-back scheme and dividend.

For the group as a whole, in the year to March 31st, 2004, profit on ordinary activities before tax, goodwill amortisation and exceptional items, increased by 19 per cent to £10 billion sterling. Group turnover grew by 10 per cent to £33.6 billion.

Free cash flow leapt by 65 per cent to £8.5 billion and the group revealed it would lift ifs final dividend per share by 20 per cent to 1.0780 pence, and for the year, total dividends per share increased to 2.0315 pence, giving a total dividend payout of £1.4 billion.

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Also, Vodafone said it would buy back a further £3 billion of its own shares in the next year, on top of the £1.1 billion it has executed so far.

In Ireland, Vodafone's turnover grew by 12 per cent, reflecting increased voice and data usage. Average Revenue Per User from Vodafone's Irish customers grew from €553 to €582 last year.

Vodafone said the data continue to show that its 1,864,000 Irish customers talk more than those in other countries. The company said it has 54 per cent of the Irish market.

The company added £13.7 million in net new proportionate mobile customers in the year, bringing the total to £133.4 million.