'Important turning point' for phone giant Vodafone
Mobile phone giant Vodafone hailed an "important turning point" as it upped its full-year outlook after growing first half earnings and sales.
The group said it ramped up growth in organic service revenues in the three months to the end of September, up by 1.2% against a rise of 0.8% in the first quarter. It also returned to underlying earnings growth in the first half, up 1.9% to £5.8bn, and now expects a full-year haul of £11.7bn to £12bn, having previously guided at around £11.5bn.
Shares in the FTSE 100-listed firm lifted 4% as the robust half-year results and profits upgrade came as a welcome dose of good news for investors after Vodafone recently dashed hopes of a £100bn mega-merger with cable firm Liberty Global. Group chief executive Vittorio Colao said: "We have reached an important turning point for the group."