Vodafone full-year loss reaches $40.7b

Vodafone Group posted a full-year net loss of 21.9 billion pounds ($40.7 billion), but its stock closed unchanged as the mobile operator announced it would return an additional 3 billion pounds ($5.6 billion) to shareholders, an Associated Press report said.
The report said the loss for the fiscal year ending March 31 reflected a 23.5-billion-pound ($43.7-billion) charge for the continuing writedown of assets bought during a spree of acquisitions in 1999-2000.
Earnings per share before exceptional items rose 13% to 10.11 pence ($0.19) in the latest quarter, broadly in line with analysts' expectations, the report said.
British brokerage Seymour Pierce said in a note to investors that Vodafone's increased dividend and its promises to return cash to shareholders "will appease skeptics," according to the report.
Revenue was up 10% to 29.35 billion pounds ($54.6 billion), the company said.