Vodafone profits plunge in new report



Vodafone’s profits plunged in the first half, hit by much lower one-off tax gains and costs linked to a series of acquisitions, the British mobile phone giant said on Tuesday.

Net profit dived 70 percent to £5.422 billion ($8.589 billion, 6.910 billion euros) in the six months ending September 30, compared with the equivalent period one year earlier, the world’s second-largest mobile operator said in a statement.

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The British group, which lags only China Mobile in terms of subscriber numbers, is snapping up companies after last year selling its 45-percent stake in Verizon Wireless to Verizon for $130 billion, clinching one of the biggest transactions in global corporate history.

It has since snapped up a number of companies.

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