Vodafone Group revenue hits £23.5bn as UK achieves success

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Group revenue up 4.1 per cent in six months to end of September, with UK revenues growing 2.1 per cent to £2.66 billion

Vodafone Group’s revenue grew 4.1 per cent year-on-year to £23.5 billion for the six months to September 30, 2011 but European service revenue was down 1.3 per cent in the period.

Group operating profit was up 72.6 per cent year-on-year to just under £9 billion with EBITDA up slightly at 2.3 per cent to £7.5 billion, which Vodafone said was driven by strong revenue growth partially offset by higher customer investment due to increased smartphone penetration.

In the UK Vodafone added 81,000 customers in Q3 to take its customer base to 19.3 million. Revenue was £2.66 billion, a 2.1 per cent increase from £2.59 billion in the same period from last year, with operating profit up from £137 million to £185 million. EBITDA grew 5.6 per cent from £599 million to £633 million.

Vodafone Group chief executive Vittorio Colao (pictured) said: “A year on from announcing our updated strategy, we are making clear progress. We are gaining share in most of our major markets, through our focus on superior network quality and an improved customer experience. In addition, we are achieving sustained growth in the key areas of data, emerging markets and enterprise.

“Although we remain mindful of the uncertain economic outlook, we are confident that we have the right strategy and capabilities to continue to perform consistently through top line growth, cost efficiency, investment and cash generation.”

 

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