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Vodafone investors looking for turnaround signs in next week’s update


Vodafone investors looking for turnaround signs in next week’s update By Proactive Investors

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Published Feb 02, 2024 12:48

© Reuters. Vodafone investors looking for turnaround signs in next week's update

Proactive Investors – Vodafone (LON:VOD) investors still have no clearer picture of how the business will look once the widespread restructuring underway settles down.

A planned merger in the UK with Hutchison’s 3 has, as was widely expected, got stuck in the weeds of a regulatory investigation.

Iliad’s second offer to merge the two companies’ Italian businesses, meanwhile, was rejected with little else than a vague suggestion Swisscom might also be interested.

One deal that does seem to be going ahead is the disposal of the Spanish operation to Zegona (LON:ZEG) which received approval from the authorities in Europe and Spain this week.

Now widely regarded as the Vodafone telecoms investment trust (on a huge discount), analysts predict next week’s third-quarter update will again contain a lot of good intentions, minimal revenue growth and any (underlying) earnings improvement to come from self-help measures.

First-half results from the company showed revenue shrank 4% to €21.9 billion due to currency swings and disposals.

Interim operating profit tumbled 44% to €1.66 billion and, at the pre-tax line, it swung to a loss of €155 million from a €1.2 billion profit a year ago.

Read more on Proactive Investors UK


Vodafone investors looking for turnaround signs in next week’s update

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