Vodafone has published its half-year financial report for the six months that ended on 30th September 2011. It made £6.0 billion in operating profit and now expects to hit £11.4 - £11.8 billion for the full year, which is better than it anticipated six months ago.
Worldwide customer numbers increased to over 391 million (and exceed 432 million when Vodafone's share of Verizon customers is included).
Group revenue was up 4.1% year-on-year to £23.5 billion, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up 2.3% to £7.5 billion.
The company notes that data revenue was up 23.8% (helped by European smartphone penetration rising to 21.7%) and machine-to-machine revenue was up 33%.
In the UK, service revenue grew by 2.1%, data revenue grew by 20.4% and EBITDA increased by 5.6%. UK customer numbers rose to 19.3 million, with 48% on prepay tariffs.
Vittorio Colao, Vodafone Group Chief Executive, said “A year on from announcing our updated strategy, we are making clear progress. 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. At the same time, we have delivered on our commitment to crystallise value from our non-controlled assets through a successful programme of disposals and the announcement of a dividend from Verizon Wireless, with the majority of proceeds pledged to shareholder returns. Although we remain mindful of the uncertain economic outlook, we are confident that we have the right strategy and capabilities to continue to perform consistently through top line growth, cost efficiency, investment and cash generation.”