Mobile phone operator Vodafone posted its first underlying growth in both full-year revenue and core earnings since 2008, helped by a return to top-line growth in Europe in the fourth quarter.

The world’s second-largest mobile phone operator reported full-year revenue of £40.97 billion, up 2.3 per cent on an underlying basis and broadly meeting market forecasts, helped by a better performance in South Africa, Egypt and Turkey.

It posted earnings before interest, tax, depreciation and amortisation of £11.61 billion, slightly shy of forecasts. It said it expected underlying earnings growth to accelerate to 3-6 per cent this year.

Reuters