Vodafone posts underlying earnings growth after European recovery

London: 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 ($59 billion), up 2.3% 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, slightly shy of forecasts.

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