Vodafone ups FY guidance on stronger profit, better organic revenue in H1

(Telecompaper) The Vodafone Group said revenues for its fiscal first half to end September fell over 4 percent year-on-year to EUR 23.07 billion, mainly due to the deconsolidation of Vodafone Netherlands after the creation of joint-venture VodafoneZiggo, plus forex effects. The operating profit meanwhile rose 32.5 percent to EUR 2.00 billion, showing the company’s actions to improve cost efficiencies. Adjusted EBITDA went 4.2 percent higher to EUR 7.4 billion despite the deconsolidation drag. Net debt at the end of the half fell to EUR 32.05 billion from 37.9 billion the year before. …read more

Source:: TelecomPaper