Vodafone Confident on Full-Year Performance, Despite COVID-19
Vodafone Group said it was increasingly confident about its full-year performance after a "resilient" first half of the year, although COVID-19 pandemic effects have not entirely passed the world’s second-largest mobile operator by.
For the six months to the end of September, Vodafone’s adjusted earnings fell by 1.9% to 7.0 billion euros, led by a 2.3% drop in revenue, as the pandemic struck roaming revenue and handset sales.
Nevertheless, Vodafone increased its target range for adjusted earnings to between 14.4 billion - 14.6 billion euros for the 2021 financial year, as opposed to 14.5 billion euros for the previous year.
The company’s Chief Executive - Nick Read said results underlined "increased confidence" and demonstrated progress in growing its fixed broadband base, delivering 5G networks, and upping customer loyalty.
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