Tuesday, November 14, 2006

Vodafone 'on track' despite loss

Vodafone made a £3.3bn half-yearly loss as it was hit by higher interest rates, competition and some of its assets being worth less than it thought.

However, it said that it was "on track" to meet key targets, with a pre-tax profit of £4.8bn before the one-off costs were taken into account.

The company reiterated full-year predictions for a rise of about 5% in income from mobile calls.

It also announced an alliance with Yahoo on mobile phone advertising.

Under the partnership, Yahoo will use its technology to provide a range of mobile advertising formats across Vodafone's services.

And Vodafone customers who accept targeted advertising will get savings on some services.