Saturday 25 November 2017

Vodafone boosts profit guidance

Graeme Evans

VODAFONE upped it guidance on full-year profits today as emerging markets and the UK helped it overcome tougher conditions in southern Europe.

The mobile phone giant now expects operating profits for the full year to be in the upper half of the £11 billion to £11.8 billion range estimated earlier this year.

The upgrade follows a 2.2pc rise in revenues to £23.5 billion in the six months to September 30. Operating profits of £6 billion were up 4.4pc.

In the UK, where the company has recently announced price hikes, revenues were 2.1pc higher after the boom in smartphone use caused data revenues to jump by a fifth.

Chief executive Vittorio Colao said: "We are gaining share in most of our major markets."

Shares opened around 3pc.

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