Key highlights (1):
- Group revenue of £35.5 billion, an increase of 14.1%, with organic growth of 4.2%
- Europe: 2.0% revenue growth, with outgoing usage up 20.1% and data revenue up 35.7%, all on an organic basis
- EMAPA: revenue growth of 45.1%, reflecting acquisitions in India and Turkey. Organic growth of 14.5%
- Group data revenue up 52.7% to £2.2 billion, with organic growth of 40.6%
- Group adjusted operating profit up by 5.7% to £10.1 billion
- Group EBITDA up 10.2% to £13.2 billion
- Verizon Wireless operating profit up 20.3%, driven by 14.5% revenue growth, both in local currency
- Free cash flow of £5.5 billion, with European capital intensity of 9.9% (2). Net cash flow from operations of £10.5 billion
- Adjusted earnings per share up by 11.0% to 12.50 pence. Basic earnings per share of 12.56 pence
- Full year adjusted effective tax rate lower than previously indicated at around 28%
- Proportionate mobile customer base of 260 million at 31 March 2008
Increasing returns to shareholders
- Total dividends per share up by 11.1% to 7.51 pence. Final dividend per share of 5.02 pence
- Dividend pay out ratio of 60%, in line with policy, and a total payout of £4.0 billion for the financial year
(1) See page 4 for Group financial highlights, page 26 for definition of terms and page 28 for use of non-GAAP financial information.
(2) Mobile capital intensity including common functions.
Arun Sarin, Chief Executive, commented:
“Our strategy is continuing to deliver strong results and is reinforcing our leadership position in the communications industry. We have increased our customer franchise to 260 million, up 26%. Adjusted earnings per share grew 11% and we met or exceeded guidance on every measure. Free cash flow of £5.5 billion underpins our 11% increase in dividends per share. We are driving our strategy across our diverse portfolio in order to continue to generate consistent, strong cash flow and superior returns for our shareholders.”
Full results announcements (PDF 678kb)
