Vodafone Posts Lower Pretax Profit on Previous Business Disposals

Vodafone Group has reiterated its full-year guidance as it reported a much lower pretax profit for the first half of fiscal 2024, reflecting adverse foreign-exchange rate movements and business disposals in the prior year.

The U.K. telecommunications company said Tuesday that it expects to report underlying earnings before interest, taxes, depreciation, amortization and lease expenses of 13.3 billion euros ($14.23 billion) for the year ending March 31 compared with EUR14.7 billion in fiscal 2023. Adjusted free cash is seen at around EUR3.3 billion, from EUR4.84 billion.