Vodafone, the world’s second largest mobile operator, increased its full-year earnings guidance, reflecting improving organic growth trends as difficult markets in Spain and Italy start to ease and it integrates its German cable acquisition. The company reported organic service revenue growth of 0.3% in the first half, as it returned to growth in the second quarter thanks to improvements in South Africa, Spain and Italy and a solid retail performance in Germany. Organic core earnings rose 1.4% in the half, and it said its growth rate would accelerate in the second half, enabling it to up its forecast for adjusted core earnings to 14.8-15.0 billion euros from its previous forecast of 13.8-14.2 billion euros.
