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Telenor lowers it’s annual sales growth forecast (World)

  • July 23rd, 2008
  • 10:54 am

Telenor lowered its annual sales growth forecast, as it has started feel the pressure from high inflation in emerging markets such as Bangladesh, Pakistan and Thailand.

The Norwegian company now expects annual sales up around 3 percent, versus a previous estimate for 5 percent growth, but maintained its EBITDA margin estimate of over 31 percent. In the second quarter, revenues rose 3 percent from a year earlier to NOK 27.18 billion, while adjusted EBITDA increased to NOK 9.32 billion from NOK 9.25 billion, giving a margin of 34.3 percent. Net profit fell to NOK 3.54 billion from NOK 3.86 billion a year ago due to foreign exchange charges.

   

Vodafone expects low annual sales (UK)

  • July 22nd, 2008
  • 8:40 am

Vodafone Group expects to report annual sales at the low end of its earlier outlook after a weak first-quarter performance. Sales in the three months to June were up 19.1 percent to US$39.60 billion (GBP 19.8 billion), but grew only 1.7 percent on an organic basis as the slowing economy started to hurt some of the mobile operator’s larger markets in Europe, especially Spain.

Vodafone forecast full-year sales at the low end of its previously forecast range of US$ 79.73- 81.52billion (GBP 39.8-40.7 billion), due to the weaker economy and lower equipment sales.