Business News
Vodafone 2009 profits double
May 18, 2010, 8:42 GMT
London - Britain's leading mobile phone company Vodafone Tuesday reported a steep rise in profits, achieved mainly through increased revenues in the emerging markets of Asia and Africa, the company said.
Pre-tax profits for the year to the end of March totalled 8.7 billion pounds (12.6 billion dollars), more than double the figure reported in the previous financial year.
The company has 341 million customers, with 8.5 million added in the last three months alone.
'We are creating a stronger Vodafone, which is positioned to return to revenue growth during the 2011 financial year, as economic recovery should benefit our key markets,' Vodafone chief executive Vittorio Colao said.
Vodafone had benefited from its focus on emerging markets, with India showing providing strong revenue growth, he said. The company reported falls in revenues in some of its more established European markets.
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