Closing of the financial year in line with expectations for Vodafone: 2011 telephony group revenue increased by 1,2% to £46,4 billion ($73,32 billion), in line with forecasts, even though core earnings were down 1,3%. Organic growth in revenues from services for the financial year 2012 is expected at 1,5%, with Europe at -1,1% and Africa, Middle East and Asia Pacific at +8%.
The Vittorio Colao-managed company then recorded goodwill impairment charges of £4 billion ($6,32 billion) on assets in Italy, Spain, Portugal and Greece, also saying it expect an increase in adjusted operating profit in 2013 on the strength of emerging markets, Germany and Turkey which offset the slowdown in Spain and Italy.
Shares on the London Stock Exchange were up 1,8% by mid-morning, after starting around 2,7% higher.
