Vodafone 1997 Annual Report Download - page 2

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Vodafone Group Plc Annual Report & Accounts for the year ended 31 March 1997
I am delighted to report that the year just ended marked further significant progress for the Group,
turnover having increased by 25% to £1,749m (1996 - £1,402m) and profit on ordinary activities
before taxation having increased by 13% to £539m (1996 - £475m).
The number of customers worldwide, proportionate to the Group's equity interests, increased by
almost one million for the second consecutive year and totalled over four million at 31 March 1997.
For the first time, the Group's international businesses, taken as a whole, achieved an operating
profit and customer growth overseas exceeded that in the UK.
Capital expenditure and investments in the year amounted to £879m (1996 - £468m), of which
£528m was spent on new investments and acquisitions.
Earnings per share amounted to 11.89p (1996 - 10.15p), an increase of 17%, and the directors are
recommending the payment of a final dividend of 2.45p per share (1996 - 2.04p), making a total for
the year of 4.81p (1996 - 4.01p), an increase of 20%.
During the year, the Group's UK businesses achieved good growth and Vodafone Limited, the network
operator, increased its market leadership. In particular, it extended its lead on digital services as a result
not only of acquiring new customers but also of successfully moving its high value analogue customers
across to digital. It became the first network to achieve over one million voice messenger customers and
its overall quality of service was further improved by the deployment of more than 430 new digital base
stations in a continuing programme of network enhancement. Notwithstanding incurring costs of £52m in
migrating analogue customers, the UK companies improved their profit and continued to provide strong
cash flow for investment in the Group's international businesses.
http://www.vodafone.com/download/investor/reports/annual97/2/8.htm (1 of 3)29/03/2007 22:31:33