Vodafone boosts earnings by 28%

Vodafone, the world's largest mobile phone company, today announced a massive increase in earnings.

Proportionate earnings before interest, tax, depreciation and amoritisation were up 28% to £7.04bn, in line with recent analysts' forecasts.

Vodafone said it had benefited from a recent period of worldwide expansion, which included its acquisition of Mannesmann and Air Touch.

However, the UK arm of the company recorded a loss of £8.10bn compared with a profit of £1.35bn a year ago.

This resulted from a goodwill amortisation charge of £11.88bn, related to its acquisitions.

This article was first published on guardian.co.uk on Tuesday May 29 2001. It was last updated at 10:13 on May 29 2001.

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