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3 months ago
Britain's Vodafone reports net loss of 6.1 bln euros
May 16, 2017 / 6:18 AM / 3 months ago

Britain's Vodafone reports net loss of 6.1 bln euros

LONDON, May 16 (Reuters) - Vodafone, the world's second biggest mobile operator, reported a 6.1 billion euro ($6.71 billion) loss for the year to end-March, dragged lower by its Indian unit it is merging with Idea Cellular.

The group, however, forecast growth in earnings and free cash flow for the current year on Tuesday, driven by stablilising average revenue from its contract customers and lower spending.

It predicted organic adjusted core earnings growth of 4-8 percent and free cash flow of about 5 billion euros, up from 4.1 billion euros in the previous year.

$1 = 0.9094 euros Reporting by Paul Sandle; editing by Kate Holton

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