Vodafone reveals profits after “tough” period

<p>Vodafone made £1.5 billion in the first half of the year.</p>

Trading in Europe has been cited by Vodafone as "tough" as the company revealed its latest financial results.

Data for the first half of the year showed that the firm made a pre-tax profit of £1.5 billion.

Chief executive Vittorio Colao explained that the company has experienced "intense macroeconomic, regulatory and competitive pressures during the period" in Europe.

Emerging markets were cited by Mr Colao as performing well for the company, which is one of the largest mobile phone operators in the world.

Mr Colao also called for the introduction of new regulation in order to support industry investment and consolidation.

Vodafone is now planning to concentrate on improving efficiency to boost its business in the coming months.

In the early stages of trading this morning (November 12th), the share price of Vodafone was down. At 08:13 GMT, its stocks had fallen by 0.51 per cent to 226.20.

This is still within reach of the company's 52-week high of 233.70.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.