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Vodafone says annual profit slumps on eurozone woes

AFP, Tuesday 21 May 2013
Views: 623
Views: 623

British mobile phone giant Vodafone said on Tuesday that annual net profit plunged 90 percent after it took a vast £7.7-billion ($11.7 billion, 9.1-billion-euro) impairment charge relating to its businesses in debt-laden eurozone nations Italy and Spain.

Earnings after taxation nosedived to £673 million in the group's financial year to the end of March, compared with £7.0 billion in 2011-2012, Vodafone said in a results statement.

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