Vodafone reports underlying earnings growth after European recovery
The Vodafone logo can be seen on top of a building outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas
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Mobile phone operator Vodafone posted its first underlying growth in both full-year revenue and core earnings since 2008, helped by a return to top-line growth in Europe in the fourth quarter.

The world’s second-largest mobile phone operator reported full-year revenue of 40.97 billion pounds ($59 billion), up 2.3 percent on an underlying basis and broadly meeting market forecasts, helped by a better performance in South Africa, Egypt and Turkey.

It posted earnings before interest, tax, depreciation and amortization of 11.61 billion pounds, slightly shy of forecasts.

It said it expected underlying earnings growth to accelerate to 3-6 percent this year.

 

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