Wednesday 28 June 2017

Vodafone rings up good numbers

Photo: Getty Images
Photo: Getty Images
John Mulligan

John Mulligan

Mobile operator Vodafone beat analyst expectations during the first half of its financial year, posting a 4.1pc rise in revenue to £23.5bn (€27.4bn) and a 2.3pc increase in profits to £7.5bn as trading in key markets such as the UK and Germany proved resilient in the face of tougher economic conditions.

The world's largest mobile operator, which has up to 500,000 Irish shareholders, also raised its full-year profit guidance to the upper range of forecasts, to between £11.4bn and £11.8bn.

In Ireland, where the company remains the biggest mobile operator with 2.22 million subscribers to the service, the company's blended average revenue per user -- which includes revenue from pre- and post-pay customers -- fell 8pc year-on-year in the quarter to the end of September to €32.60.

The figure was 0.9pc lower compared to the previous quarter. Vodafone has a total of 2.45 million customers here, which include subscribers to its fixed-line services.

"These are reassuring results," said analyst Tim Boddy at Goldman Sachs. "Revenue growth can improve further in the second half."

Irish Independent

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