Vodafone H1 revenue up 9 pc

NEW DELHI: Vodafone Group posted revenues of £17 billion for the first six months of the financial year 2007, up by nine per cent compared to £15.59 posted during the same period previous year.

“These results reflect our continuing focus on the execution of our strategy. In Europe, we have performed well in competitive markets by driving strong growth in voice usage and data revenue, whilst improving cost efficiency,” said Arun Sarin, chief executive, Vodafone.

“In EMAPA, we are capturing the revenue growth opportunities within emerging markets and benefiting from continuing momentum at Verizon Wireless. The increased interim dividend reflects the Board’s confidence in how the business is progressing,” he added. The company’s revenue from Europe grew by two per cent and EMAPA revenue grew 39.9 per cent, reflecting acquisitions in India and Turkey. “Group adjusted operating profit increased by 1.6 per cent to £5.2 billion including an increased contribution from Verizon Wireless which grew by 26 per cent on a constant currency basis.

Adjusted earnings per share increased by 7.4 per cent to 6.42 pence due to the year on year benefit from the share consolidation in July last year,” Sarin said. The company’s focus is to build on track record of creating value in emerging markets.

The Indian business is delivering very strong growth. Average net customer additions are running at 1.6 million per month, with a customer base of over 35 million at the end of September. Year on year revenue growth was around 53 per cent on a constant currency basis, Vodafone said in a statement.