Operator results - 25 May 2005

Hutchison expects to break-even by next year. It expects its operating profit to increase as its 3G business expands.

Vodafone posted FY revenues of $57bn (down 7%), while net loss narrowed to $13.8bn (up 16.5%). It bought MobiFon in Romania and Oskar Mobil in the Czech Republic for $3.5bn, and completed a £4-billion buy-back programme this year. It expects revenue to increase between 6 % and 9 % this year.

Orascom posted revenues of $714m, up 61%, and EBITDA of $305m, up 4%.