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Vodafone increases profit outlook

Vodafone increases profit outlook
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Britain’s Vodafone has said with sales growing faster than expected it can raise its full-year profit outlook.

The world’s largest mobile operator in terms of revenue saw sales in the first half of the year rise by 3.9 percent.

Core earning in that period fell to the equivalent of 8.6 billion euros, but that was still better than analysts had expected.

Vodafone has also reached an agreement to sell its investment in Japanese phone company SoftBank for the equivalent of 3.6 billion euros.

It is the latest disposal of stakes in companies it does not completely control in response to complaints from shareholders that those investments are not delivering value.

The British carrier recently sold its stake in China
Mobile for 4.6 billion euros and is reviewing its holdings in France’s SFR and Verizon Wireless in the US.