New users increase profits for Vodafone

Source: Exec Digital UK

Date :13/11/2007 10:56:10

Vodafone have posted its annual results reporting a 1.6 percent increase in adjusted operating profit for the first half of its financial year.

The shares jumped 3.6 percent in opening trading, rising 6.6 pence to 188.6 pence, continuing their strong run of recent months.

The group reported a net 20 million customers during the half year giving it a total 241 million at the end of September.

Vodafone’s projected profits for the full year to next March will be in the range of £34.5 billion to £35.1 billion, up from its previous range of £33.3 billion to £34.1 billion, after first-half revenue rose by 9 percent to £17 billion.

Through recent acquisitions in India and Turkey and operations outside Europe helped boost revenue by 39.9 percent. Total revenue from Europe rose by 2 per cent.

Figures for Vodafone adjusted operating profits have been lifted to the upper end of its previous range, expecting the outturn to be between £9.5 billion and £9.9 billion, rather than £9.3 billion to £9.8 billion.

November, 13 2007