27 Aug 2015

Vodafone quadruples its losses

11:23 am on 27 August 2015

Vodafone has quadrupled its full year loss.

The phone and broadband provider lost $120.7 million in the year to the end of March, compared with a loss of $27.9 million in the previous year.

Revenue fell 4 percent to $1.96 billion.

The British-owned company bought fixed-line phone and broadband provider TelstraClear for $840 million in 2012.

Last week, its rival, Spark, reported that its annual profit fell by 18 percent to $373 million.

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