Vodafone UK reports 6% revenue swell

Vodafone’s H1 FY22 results show that the company’s UK operations increased by 6% to €3.2bn due to higher service revenue and equipment revenue.

The telco’s UK revenue now accounts for 13% of the Group’s total service revenue.

On an organic basis, service revenue grew by 1.2%, Mobile service revenue grew by 1.3% and fixed service revenue grew by 0.9%. Vodafone notes that performance in the current period was driven by the decision to end a large but unprofitable multinational contract, and a reseller entering administration

The result’s noted that Vodafone UK added 149,000 mobile contract customers, with digital sales now accounting for 33% of total sales. Vodafone now has almost one million broadband customers, of which 482,000 are converged.

The wider picture shows that group revenue increased by 5.0% to €22.5 billion, mainly driven by service revenue growth in Europe and Africa

Nick Read, Group CEO, said: “We know there is more to do and our focus remains on driving growth. We are structured for value creation, with operational priorities and portfolio actions which are designed to improve returns at pace.”

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