5/17/2010 9:59:00 AM
Vodafone to report 150% profit surge
Vodafone is poised to report a 150% leap in profits as it recovers from poor performance in its Spanish and Turkish arms, according to reports.
Analysts predicted that the operator, which is due to report its first quarter results tomorrow (18 May), will reveal profits of £10.4bn, compared with £4.1bn in Q1 2009.
Vodafone is expected to report overall growth in Europe, with the UK a highlight as iPhone sales are reported for the first time.
The network is thought to have sold 500,000 of the Apple devices since it won the right to sell the handset in the UK in January.
CEO Vittorio Colao is expected to reassure investors that the company's Turkish operation is beginning to show good progress after he described the business as a ‘disaster’ last year, the Telegraph said.