Outlook
2009 financial year
| Revenue £bn |
Adjusted operating profit £bn |
Capitalised fixed asset additions £bn |
Free cash flow(1) £bn |
|
|---|---|---|---|---|
| Outlook – May 2008(2) | 39.8 to 40.7 | 11.0 to 11.5 | 5.3 to 5.8 | 5.1 to 5.6 |
| Operational | (1.0) | (0.4) | (0.2) | 0.1 |
| Acquisitions | 0.2 | – | 0.1 | (0.1) |
| Foreign exchange | 0.3 | 0.4 | – | 0.1 |
| Outlook – November 2008(3) | 38.8 to 39.7 | 11.0 to 11.5 | 5.2 to 5.7 | 5.2 to 5.7 |
| Foreign exchange | 1.8 | 0.5 | 0.3 | 0.3 |
| Outlook – February 2009(4) | 40.6 to 41.5 | 11.5 to 12.0 | 5.5 to 6.0 | 5.5 to 6.0 |
| 2009 performance | 41.0 | 11.8 | 5.9 | 5.7 |
Notes:
- (1)
- Before licence and spectrum payments.
- (2)
- The Group’s outlook from May 2008 reflected expectations for average foreign exchange rates for the 2009 financial year of approximately £1:€1.30 and £1:US$1.96.
- (3)
- The Group’s outlook, as updated in November 2008, reflected the impact of the Group’s acquisition of stakes in Ghana, Qatar and Poland and by SFR of Neuf Cegetel and updated expectations for average foreign exchange rates for the 2009 financial year of approximately £1:€1.26 and £1:US$1.80.
- (4)
- The Group’s outlook, as updated in February 2009, reflected updated expectations for average foreign exchange rates for the 2009 financial year of approximately £1:€1.20 and £1:US$1.72.