Vodafone increasingly confident after resilient first half


3/3

© Reuters. The Vodafone logo is seen at the Mobile World Congress in Barcelona

2/3

LONDON (Reuters) – Vodafone Group (L:), the world’s second largest mobile operator, said it was increasingly confident about its full-year performance after a “resilient” first half, despite underlying momentum being obscured by the impact of COVID-19.

Vodafone nudged up the target range for adjusted core earnings to between 14.4 billion euros (12.9 billion pounds) and 14.6 billion euros for its 2021 financial year, compared to 14.5 billion euros for the previous year.

For the six months to the end of September, its adjusted earnings fell by 1.9% to 7.0 billion euros on a 2.3% drop in group revenue to 21.4 billion euros, as the pandemic impacted roaming revenue and handset sales.

Chief Executive Nick Read said the results underlined “increased confidence” in the outlook and demonstrated progress in increasing customer loyalty, growing its fixed broadband base and delivering 5G efficiently through network sharing.

The slight upgrade to the outlook compared to a previous forecast for full-year core earnings to be “flat to slightly down” on the previous year, and analysts were forecasting on average 14.37 billion euros.

Vodafone also confirmed its full-year free cashflow guidance of at least 5 billion euros before spectrum and restructuring costs on Monday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Nissan to issue $8 billion in dollar-denominated debt

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here