London — British mobile phone giant Vodafone rebounded back into a first-half net profit, as the previous year’s Indian write-down was not repeated, it said Tuesday. Vodafone, the second-largest mobile operator globally and majority owner of SA operator Vodacom, raised its forecast for full-year earnings growth to about 10%, from 4-8%. Earnings after taxation hit €1.131bn in the six months to the end of September, it said in a results statement. Vodafone had suffered a spectacular net loss of €5.129bn in the same part of last year, when it was plagued by an enormous write-down on the value of its Indian business. Operating profit jumped almost a third to €2bn in the first half of 2017, boosted by falling costs and lower taxation. "In the first half of the year we have maintained good commercial momentum," CEO Vittorio Colao said. Turnover meanwhile sagged 4.1% to €23.1bn, due partly to the deconsolidation of its Dutch unit, Vodafone Netherlands. Sales were also affected by the weak ...
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