Vodafone UK half-year revenues fall 3.1pc to £3 billion

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Almost 1.4 million customers using 4G in the UK with outdoor population coverage reaching 48 per cent

Vodafone revenues fell by 3.1 per cent in the UK for the six months ending September 30, as group revenue grew by 8.9 per cent to £20.8 billion on a year-on-year basis.

UK income for the half year fell by £133 million from £3.2 billion to £3.09 billion between April and September while organic group revenue fell by three per cent.

Vodafone saw it’s UK mobile customer base increase by 96,000 from 19.572 million to 19.668 million between July 1 and September 30. 40.1 per cent of Vodafone’s customer base are pre-paid.

Mobile in-bundle spend increased year-on-year for the quarter, from £611 million in 2013 to £635 million in 2014. However, out-of-bundle revenue decreased by £20 million from £347 million to £327 million.

The results, which were released today (November 11) also revealed that Vodafone gained 3,000 fixed broadband customers during that period, giving it a fixed line base of 62,000 customers.

Despite the increase in fixed line subscriptions, Vodafone revealed that fixed line revenues have declined by £43 million, from £408 million in the quarter in 2013 to £365 million in 2014.

Group operating profit declined by 58.2 per cent for the half year, down from £2.196 billion in during H1 2013 to £917 million for H1 2014.

Vodafone Group CEO Vittorio Colao said the results reflected Vodafone’s progress in it’s £19 billion Project Spring investment programme. He said the firm is targeting 90 per cent 4G coverage across Europe within the next 18 months.

In a statement, he said: “We have made encouraging progress during the quarter. There is growing evidence of stabilisation in a number of
our European markets, supported by improvements in our commercial execution and very strong demand for data.

“Our two year, £19 billion investment programme is well underway, and customers are beginning to see the benefits.

“Our markets continue to be highly competitive, and regulatory and macroeconomic risks remain. However, we are not yet half way through our investment programme, and there is still much more we will do to build a differentiated service for customers and improve perception.”

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