Investors should have plenty to chew on when Vodafone (VOD) reports full-year results on Tuesday. Updates on the telecom giant's 'Project Spring' investment programme, recent acquisitions of Ono and Kabel Deutschland and progress in Europe are on the cards.
Soaring demand for mobile data has prompted Vodafone to invest heavily in high-speed '4G' wireless networks. Investors will want to see strong take-up of its new services, higher average revenue per user and lower churn. They may also hope that management decides to curtail capital spending after Project Spring, which would open up the potential for dividend growth.
Broker Jefferies expects organic service revenues to be flat as emerging markets growth offsets ongoing declines in Europe. It forecasts adjusted pre-tax profit of £2.26bn, giving EPS of 5.45p (from £3.18bn and 7.69p in 2014).
