Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Vodafone announces drop in half-year profits

LONDON, Nov 8 – British mobile phone giant Vodafone said on Tuesday that net profits dropped 11 percent to £6.68 billion (7.8 billion euros, $10.7 billion) in the group’s first half but was confident about the outlook.

Profit after tax for the six months to September 30 compared with net earnings of £7.54 billion in the same part of 2010, which included proceeds from the sale of its stake in China Mobile, Vodafone said in a statement.

Revenues rose 4.1 percent to £23.52 billion in the reporting period.

Chief executive Vittorio Colao was optimistic about the future.

“Although we remain mindful of the uncertain economic outlook, we are confident that we have the right strategy and capabilities to continue to perform consistently through top line growth, cost efficiency, investment and cash generation,” he said in the statement.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...