Saturday, July 12, 2014

Vodafone takes big hit on Spain, Italy operations

February 19. 2013 5:03PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Mobile communications company Vodafone Group PLC has reported a six-month loss as it booked a big charge on its Spanish and Italian operations.

For the six months ending Sept. 30, Vodafone made a loss of 1.98 billion pounds ($3.18 billion), compared to a net profit of 6.68 billion pounds a year earlier.

Revenue fell 7 percent to 21.8 billion pounds largely because of adverse currency movements.

The company said Tuesday the 5.9 billion pounds ($9.4 billion) impairment charge for Spain and Italy reflected lower projected cash flows and increased discount rates.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds