Voda­fone is up­wardly mo­bile

Daily Express - - CITY & BUSINESS -

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.”

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