Vodafone Cuts Full-Year Sales Forecast

Updated from 3:21 a.m. EST

Vodafone(VOD Quote), the world's biggest mobile phone company, said first-half adjusted operating profit rose 10.5% to 5.8 billion pounds ($9.05 billion) on a revenue increase of 17%, but reduced its full-year sales forecast for the second time in four months.

Net profit in the period fell 35% to 2.2 billion pounds from 3.3 billion pounds a year earlier.

Vodafone said it expects full-year revenue in the range of 38.8 billion pounds to 39.7 billion pounds, and adjusted operating profit of 11 billion pounds to 11.5 billion pounds. In July, Vodafone said it expected full-year revenue near the bottom of 39.9 billion pounds to 40.7 billion pounds. ...