Reliability has hardly been Vodafone’s strong suit, so investors could be forgiven for eyeing loose profit guidance for this year with trepidation. Rampant inflation could not only lead to higher costs, but weaken demand — particularly in emerging markets — the telecoms provider is aware.
Profit guidance for the year ahead is expected to land anywhere between €15 billion and €15.5 billion, which takes into account currency fluctuations, leaving investors guessing whether it is likely to lag, hit, or exceed last year’s €15.2 billion.
Vodafone’s ability to consolidate with rivals in core European markets has become the yardstick against which investors are judging the success of the strategy put forward by chief executive Nick Read.
Reports that it is in talks with Three in the
