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Vodafone – Financials
Consolidated Income Statement
for the years ended 31 March
2008 2007 2006
Note £m £m £m
Revenue 3 35,478 31,104 29,350
Cost of sales (21,890) (18,725) (17,070)
Gross profit 13,588 12,379 12,280
Selling and distribution expenses (2,511) (2,136) (1,876)
Administrative expenses (3,878) (3,437) (3,416)
Share of result in associated undertakings 14 2,876 2,728 2,428
Impairment losses 10 – (11,600) (23,515)
Other income and expense 29 (28) 502 15
Operating profit/(loss) 3,4 10,047 (1,564) (14,084)
Non-operating income and expense 29 254 4 (2)
Investment income 5 714 789 353
Financing costs 5 (2,014) (1,612) (1,120)
Profit/(loss) before taxation 9,001 (2,383) (14,853)
Income tax expense 6 (2,245) (2,423) (2,380)
Profit/(loss) for the financial year from continuing operations 6,756 (4,806) (17,233)
Loss for the financial year from discontinued operations 29 – (491) (4,588)
Profit/(loss) for the financial year 6,756 (5,297) (21,821)
Attributable to:
– Equity shareholders 23 6,660 (5,426) (21,916)
– Minority interests 96 129 95
6,756 (5,297) (21,821)
Basic earnings/(loss) per share
Profit/(loss) from continuing operations 8 12.56p (8.94)p (27.66)p
Loss from discontinued operations 8, 29 – (0.90)p (7.35)p
Profit/(loss) for the financial year 8 12.56p (9.84)p (35.01)p
Diluted earnings/(loss) per share
Profit/(loss) from continuing operations 8 12.50p (8.94)p (27.66)p
Loss from discontinued operations 8, 29 – (0.90)p (7.35)p
Profit/(loss) for the financial year 8 12.50p (9.84)p (35.01)p
Consolidated Statement of
Recognised Income and Expense
for the years ended 31 March
2008 2007 2006
Note £m £m £m
Gains on revaluation of available-for-sale investments, net of tax 22 1,949 2,108 705
Exchange differences on translation of foreign operations, net of tax 22 5,537 (3,804) 1,494
Net actuarial (losses)/gains on defined benefit pension schemes, net of tax 22 (37) 50 (30)
Revaluation gain 22 – – 112
Foreign exchange (gains)/losses transferred to the Consolidated Income Statement 22 (7) 838 36
Fair value gains transferred to the Consolidated Income Statement 22 (570) – –
Other 22 37 – –
Net gain/(loss) recognised directly in equity 6,909 (808) 2,317
Profit/(loss) for the financial year 6,756 (5,297) (21,821)
Total recognised income and expense relating to the year 13,665 (6,105) (19,504)
Attributable to:
– Equity shareholders 13,912 (6,210) (19,607)
– Minority interests (247) 105 103
13,665 (6,105) (19,504)
The accompanying notes are an integral part of these Consolidated Financial Statements.
88 Vodafone Group Plc Annual Report 2008