Vodafone 1999 Annual Report Download - page 17

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Financial Review
Proportionate share of network customers
31 March
1999
31 March
1998
Growth
(’000) (’000) %
UK 5,575 3,430 63
Australia 884 491 80
Egypt 29 – –
France 924 506 83
Germany 406 212 92
Greece 655 343 91
Malta 19 15 27
Netherlands 1,000 439 128
New Zealand 181 – –
South Africa 629 308 104
Sweden 133 95 40
Uganda and Fiji 10 5 100
–––––– ––––––
TOTAL 10,445 5,844 79
–––––– ––––––
TOTAL International 4,870 2,414 102
Total Group operating profit
Total Group operating profit increased by 40% to £962.6m.
In the UK, total operating profit rose by 14% to £643.2m, and by £59.5m (10%) after
adjusting for last year’s exceptional costs of £19.7m for the reorganisation of the UK
service provider businesses. The growth in total operating profit was less than the growth
in turnover as increased usage was off-set by tariff reductions and connection costs
associated with exceptional customer growth.
International operations made a total operating profit of £319.4m (1998 – £122.4m). This
increase has arisen from stronger trading in all of the Group’s principal overseas
interests.
Total operating profit in Continental Europe rose by £119.5m due to strong growth in the
profitability of all of the Group’s European operations and the benefit of a full year’s
trading from Libertel as a subsidiary. The improved trading performance of the Pacific
Rim businesses, which made a total operating profit of £8.9m, compared to losses of
£59.2m in the previous year, was due to the Australian businesses moving through break-
even and achieving an overall profit in the financial year. Profits increased in the Rest of the World to £53.1m, up by 22%.
http://www.vodafone.com/download/investor/reports/annual99/financial_review.htm (2 of 10)30/03/2007 00:08:22