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General

Vodafone posts H1 loss on impairment charges, revenues fall 5.5%

Tuesday 13 November 2018 | 08:25 CET | News
Vodafone reported a net loss of EUR 7.8 billion for its fiscal first half to September, after a loss on the merger of its Indian operations with Idea Cellular and impairment charges on operations in Spain and Romania. Group revenue declined by 5.5 percent to EUR 21.8 billion, hurt by forex and accounting effects and tougher competition in Spain and Italy. The new CEO Nick Read presented his strategy to return the company to growth, including cost efficiencies, convergence and a possible spin-off of tower assets in Europe. 

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Categories: General
Companies: Idea Cellular / Vodafone
Countries: Europe / World
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