Strong performance in Africa and Europe has put Vodafone on course to meet targets, says CEO
Vodafone has announced revenue is set up five per cent for the first half of its financial year.
Total group revenue grew to €22.5 billion.while Group service revenue increased by 2.8 per cent for the first half.
The number of mobile connections in Europe reached 114 million and in Africa this reached 186 million.
Much of the growth has largely been driven by service revenue in Europe and Africa, plus a recovery in handset sales post lockdown and favourable foreign exchange movements.
The UK showed the largest growth in service revenue at five per cent, and other European countries also reported a slight increase.
Vodafone group chief executive Nick Read said: “The results show we have demonstrated good sustainable growth and solid commercial momentum.
“Our strengthened performance in Africa and Europe puts us back on track to be at the end of our guidance for this year, as well as firmly within our medium-term financial ambitions.”
Vodafone also reported that 43.7 million homes in Europe have been fitted with one gigabit capable fixed-line network and 5G had been launched in over 240 cities in Europe.