Vodafone lifts full-year forecasts

Mobile phone giant Vodafone today raised guidance for full-year revenues after posting a forecast-beating interim profits haul.

The group has upped its revenues target by more than £1bn (€1.4bn) to between £34.5bn (€48.7bn) and £35.1bn (€49.6bn) for the year to the end of March.

Vodafone said its recent acquisition of fixed-line operator Tele2 in Italy and Spain would help boost full-year figures, as well as a tight control on costs and foreign exchange rate advantages.

Vodafone’s upbeat outlook came as the group posted underlying earnings up 5% to £6.57bn (€9.3bn) – better than the £6.4bn (€9bn) forecast in the City.