Business Services Industry
Vodafone to Post Mixed Profit Messages.
Knight Ridder/Tribune Business News, May, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
May 25--Depending on how you look at it, Vodafone will today post a record profit for a British company -- or a stellar loss.
The mobile giant is on course for a full-year profit above UKpound 10 billion. But paper write-offs of up to UKpound 15 billion, mostly linked to its UKpound 120 billion merger with Germany's Mannesmann, will drag it down to a bottom-line loss of up to UKpound 9 billion. It was UKpound 6.2 billion in the red last year.
Chief executive Arun Sarin is likely to say there is no quick fix for Japan, where a lack of the latest handsets has left it lagging the opposition.
Mark James at Nomura describes Vodafone's 1.7 pence dividend as...
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