Vodafone is upwardly mobile
VODAFONE shares were 11p up to 227p yesterday after it raised its annual profit forecast for the first time “in recent history”.
The mobile operator has benefited from customers using more mobile data rather than wifi.
It has also not been hit as hard as anticipated by the abolition of roaming fees in Europe.
It posted a 13 per cent rise in half-year adjusted pre-tax earnings to ¤7.4billion (£6.62billion). It now expects annual earnings growth of about 10 per cent, up from an estimate of 4-8 per cent.
Chief executive Vittorio Colao said: “Customers are increasingly using mobile networks rather than wifi given the improving quality of our 4G networks and our more generous data.”