Cellular Phone Giant Vodafone Announces Group Net Profits Of 8.6 Billion.

British Cellphone phone giant Vodafone reported on Tuesday that its annual net profits almost trebled to 8.6 billion pounds, citing reduced write-downs and increased sales of its Internet services.
By: Jonathan Andersen - Press Officer
May 18, 2010 - PRLog -- Vodafone, who are the world's largest cellphone operator by revenue published figures showing after tax profit had greatly increased to 10.1 billion dollars, more than their guidance predicted.

Vodafone's 2008/2009 net profits were 3.078 billion pounds.

Portfolio Manager Mark Strong at Bristol Financial said "Vodafone have reduced costs wherever possible and reduced working capital to manage better in the current recessionary environment but still invest in their networks to ensure best quality of service for their customers. This stock is a sure fire winner for the rest of 2010 and pays a very worthwhile
dividend to share holders"

Almost 33 percent of service revenue comes from products other than mobile voice, showing that Vodafone clearly are a total communications provider who are able to adapt and diversify easily.

In early London trade, Vodafone's share price fell 0.76 percent to 137.39 pence on the benchmark FTSE 100 index, which was up 1.15 percent

Mark Strong of http://www.bristoloffshore.com has a target price of 160 pence within 6 months for Vodafone stock.

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Bristol Offshore is an offshore brokerage firm servicing both retail, corporate and institutional clients. All clients have access to an advanced online trading platform accessible through laptop or smartphone.
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