(MENAFN) British mobile phone giant Vodafone said that it surged back into first-half profit on a huge taxation credit, and pledged to invest after the sale of its US division.
Earnings after taxation stood at USD28.6 billion during the six months to September 30, supported by a tax credit of almost USD20.1 billon.
Vodafone declared that it will invest USD9.3 billion to expand businesses in key European and emerging markets, following its huge USD130 billion deal to sell its US joint-venture stake to partner Verizon. That compared with its previous plans to invest USD8 billion. Chief Executive Vittorio Colao added that the group also hoped to reward its shareholders for their loyalty.
The company said revenues grew 1.2 percent to USD29.53 billion in the first half, despite "tough" trade in Europe, as emerging markets continued to deliver growth.
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