Vodafone's core profit falls 4.1%

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Vodafone's (VOD) H1 EBITDA dropped 4.1% to £6.6B but topped consensus of £6.4B.

Revenue +1.2% to £22.03B; on organic basis, revenue -3.2%.

Pretax profit £1.51B.

Takes £3B tax charge on $130B sale of its stake in Verizon Wireless.

Confirms full-year guidance for adjusted operating profit of £5B, free cash flow of £4.5–5B.

Vodafone intends to invest £7B ($11.18B) by March 2016 as part of its "Project Spring" to improve its network as it looks to cater to consumers who want to access the Internet with smartphones and tablets.

Declares interim dividend of 3.53 pence a share, up 8%; intends to pay full-year dividend of 11 pence. (PR)