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Vodafone posts strong first quarter figures as roaming returns

Paul Lipscombe
July 23, 2021

Total revenue for the first quarter from April to the end of June was up 5.7 per cent

Vodafone Group reported a strong first quarter following strong growth in Europe and Africa and roaming gains.

The operator posted total revenue of €11.1bn (£9.42bn) for its fiscal year 2022, with this figure up 5.7 per cent year-on-year (YoY).

Service revenue also grew YoY to €9.4bn, up 3.3pc from FY2021, with the figure up 2.5pc in the UK to €1.3bn.

Vodafone’s performance was also helped by an increase in roaming and visitor revenue, with this up 56pc YoY.

However this number is still 54pc lower than pre-pandemic levels seen in FY2020.

The company also outlined strong gains in Africa, notably its mobile phone-based money transfer service M-Pesa as transactions ramped up 45pc YoY.

Commenting on Vodafone’s latest trading update, Group chief executive Nick Read said: “This growth was broad-based within both consumer and business segments, with the vast majority of our markets contributing. This is a result of our commercial and operating momentum built over the past three years as part of our strategic transformation.”

Read also noted that Vodafone’s Business segment has also seen stronger growth, while he adds that Vodafone is on track to deliver its FY22 guidance.

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