Alexa
  • Directory of Taiwan

Vodafone 2011 profit slips on impairment charge

Vodafone 2011 profit slips on impairment charge

Vodafone says its net profit fell by nearly 8 percent in 2011 as the company booked a 6.1 billion pounds ($9.9 billion) impairment charge on operations in Spain, Greece, Portugal, Italy and Ireland.
The mobile communications company reported Tuesday that it made a net profit of just under 8 billion pounds for the year, down from 8.6 billion pounds in 2010. Revenue was up 3 percent to 45.9 billion pounds.
The impairment charge was due mainly to higher discount rates on services and sharply increased interest rates in the five countries. The charge was partly offset by a 2.8 billion pounds gain on the sale of Vodafone's stake in China Mobile and 1.8 billion pounds from the settlement of a tax case.


Updated : 2021-05-16 05:47 GMT+08:00