Vodafone Raises Fiscal Year 2020 Earnings Guidance on Liberty Global Gains

Date : 11/12/2019 @ 4:00PM
Source : Dow Jones News
Stock : Vodafone Group Plc (VOD)
Quote : 146.24  1.9 (1.32%) @ 12:35AM
Vodafone share price Chart

Vodafone Raises Fiscal Year 2020 Earnings Guidance on Liberty Global Gains

Vodafone (LSE:VOD)
Historical Stock Chart

2 Months : From Oct 2019 to Dec 2019

Click Here for more Vodafone Charts.
   By Adria Calatayud 
 

Vodafone Group PLC (VOD.LN) on Tuesday raised its adjusted earnings guidance for fiscal 2020, benefiting from its acquisition of certain Liberty Global PLC (LBTYB) assets in Europe and the sale of its New Zealand operations.

The British telecommunications company upgraded its earnings outlook as it said that lower cash flows from India and the New Zealand sale will lead to slightly lower-than-previously-expected cash flow and posted a narrowed pretax loss for the first half.

Vodafone said it now expects adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred profit metric, which strips out exceptional and other one-off items--of between 14.8 billion and 15.0 billion euros ($16.32 billion and $16.54 billion) for the year ending March 31, 2020. The company had previously guided for adjusted Ebitda of between EUR13.8 billion and EUR14.2 billion.

This implies organic growth for the full year of between 2% and 3%, Vodafone said.

Pretax loss for the six months to Sept. 30 was EUR511 million compared with a loss of EUR2.89 billion for the year-earlier period, the British telecommunications group said. In the first half of fiscal 2019, Vodafone booked a large loss on the sale of Vodafone India.

Revenue for the first half was up 0.4% at EUR21.94 billion, the company said. Organic service revenue--a figure closely watched by analysts--was up 0.3% for the first half and up 0.7%for the second quarter.

Vodafone said adjusted Ebitda was EUR7.11 billion in the first half of fiscal 2020, up 1.4% on an organic basis benefiting from cost savings.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

November 12, 2019 02:45 ET (07:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

Finance Manila is owned and operated by ADVFN PLC.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:fm D:20191215 10:03:05