On Tuesday, Vodafone has announced that its annual net profit sank 7.8% following a huge impairment charges for its operations in financially crunch nations in south Europe. Although, the company faced low annual net profit, its total sales has increased by 3.2 % to £45.88 billion.

The impairment losses inflated to £6.15 billion as compared with £2.1 billion. The group has blamed weak economic environments in Greece, Italy, Ireland, Spain and Portugal for its low profits.

The Chief Executive, Vittorio Colao, said, “The past year has seen further strong performances in our key revenue growth areas of data, emerging markets and enterprise, and we have gained or held market share in most of our key markets”. He further said that the company has entered into a new financial year and is looking towards delivering further value to their shareholders.

Vodafone is expecting a raise of £14.2 billion from the sale of its goods in China Mobile, SoftBank and SFR as it has committed £6.8 billion to share buyback programs.

Meanwhile, it has emerged that the price of the gasoline in New Hampshire has stayed unchanged. The prices have remained to $3.92 per gallon since Sunday.