Ireland counters Vodafone downturn

Ireland provided one of the few growth stories in Vodafone group’s disappointing results as an unexpected slowdown in emerging markets forced the company to launch cost-cutting measures.

Growth from emerging markets has helped cushion the impact of Europe’s weak economies in the last two years, but the key market of India showed signs of slowing in the last three months.

Vodafone group chief executive Vittorio Colao said that, due to the poor results, the company had to cut costs.