Vodafone: rise in operating profits, fall in value of assets

Vodafone, which acquired Eircell from Eircom, reported its results for the half year.

It reported a rise in underlying earnings and margins, which were both ahead of forecasts, and a 15% increase in subscribers.

In Ireland it has 1.6 million subscribers. Its turnover increased by 27% to £8.9bn and its operating profit rose 40% to £3.4bn.

However, the company had to take a write down of £6.7bn against the value of acquisitions made before the telecoms downturn.