Vodafone (VOD) climbed in pre-market trading, after the company reported its first half profit.
The stock was up $1.80 around 9:00 am ET, advancing to $18.86. If pre-market gains hold, the stock will open at its highest level in a week.
Tuesday, Vodafone reported first-half profit of 2.17 billion pounds, down 34.8% from 3.33 billion pounds last year. Basic earnings per share fell 35% to 4.04 pence from 6.22 pence in the previous year.
Adjusted profit for the period attributable to equity shareholders went up 17.3% to 3.99 billion pounds from 3.40 billion pounds a year earlier. Adjusted earnings per basic share rose 17.1% to 7.52 pence from prior year's 6.42 pence.
Pre-tax profit was 3.31 billion pounds, down 27.3% from last year's 4.56 billion pounds. Adjusted pre-tax profit increased 12.5% to 5.29 billion pounds from 4.70 billion pounds last year.
Group revenue increased 17.1% to 19.90 billion pounds from 16.99 billion pounds a year ago, substantially due to foreign currency benefits, with organic growth of 0.9%.
The company said the interim dividend for the current financial year will be increased by 3.2% to 2.57 pence per share.
Further, Vodafone updated its forecast for the fiscal 2009. The company now expects revenue in the range of 38.8 billion pounds to 39.7 billion pounds, compared to previous forecast of around 39.8 billion pounds.
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