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Vodafone Group Public Limited Company Message Board

  • spcrash spcrash Apr 4, 2013 5:44 AM Flag

    Vodafone Restates Results in Change to Accounting for Ventures


    Vodafone Restates Results in Change to Accounting for Ventures
    By Amy Thomson - Apr 4, 2013 4:43 AM ET
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    Vodafone Group Plc (VOD) is restating its results going back two fiscal years as new international accounting rules for joint ventures cut historical revenue and earnings.
    Revenue for the year ended March 2012 was revised to 38.8 billion pounds ($58.4 billion) from 46.4 billion pounds, the Newbury, England-based company said today in a statement. Earnings before interest, taxes, depreciation and amortization were reduced to 11.6 billion pounds from 14.5 billion pounds.

    Sentiment: Strong Sell

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