Vodafone sees profits slide

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Vodafone's profits have dropped by almost a third to $121.6 million. Revenues for the year to the end of March edged down $9 million to $1.609 billion. The company faced fresh competition from 2degrees during the second half of its financial year, and from Telecom's XT mobile network for most of the year, but said it believed it had maintained its share of the market. Vodafone is believed to account for about 60 per cent of the mobile market, by revenue.

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