Troubled Vodafone shares are a steal

A couple of weeks ago, Vodafone (VOD, 126p) announced that its sales growth and profits will fall as its Japanese division soaks up the cash it needs to fight off competition from NTT DoCoMo from the rest of the firm.

A couple of weeks ago, Vodafone (VOD, 126p) announced that its sales growth and profits will fall as its Japanese division soaks up the cash it needs to fight off competition from NTT DoCoMo from the rest of the firm.

Since the warning, Vodafone has published its interim results, making the damage clearer. Earnings per share fell from 5.40p to 4.36p, while pre-tax profit was down £400m to £4.1bn. But at the same time, Vodafone increased its share buyback target by £2bn to £6.5bn, and increased the dividend by 15%.

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Annunziata Rees-Mogg

Annunziata was a deputy editor at MoneyWeek, covering financial markets, politics, economics and comment pieces. She then went on to the Daily Telegraph as a lead writer where she wrote a column on young women’s financial issues. She was briefly a member of the European Parliament for the East Midlands region in the UK as part of the Conservative Party.  Annunziata continues to write  as a freelance journalist.