Business News
Vodafone upbeat as profits rise 4.1 per cent
Nov 8, 2011, 12:19 GMT
London - British mobile phone group Vodafone Tuesday raised its full-year profit guidance following better than expected half-yearly results driven by growing demand from emerging markets.
Figures published in London Tuesday showed that revenue rose by 4.1 per cent to 23.5 billion pounds (37.7 billion dollars) in the six months up to the end of September, as 9.4 million new customers joined the network.
Operating profits were up by 4.4 per cent to 6 billion pounds for the period.
Vodafone said it now expected full-year operating profits to be between 11.4 and 11.8 billion and 11.8 billion pounds.
The group saw global subscribers rise by 2.5 per cent to reach 391 million, with the biggest gains in India, Egypt, Turkey and Africa, where Vodafone smartphone technology topped demand.
'We are gaining share in most of our major markets, through our focus on superior network quality and an improved customer experience. In addition, we are achieving sustained growth in the key areas of data, emerging markets and enterprise,' Vodafone chief executive Vittorio Colao said.
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