Jul 25, 2022

Vodafone boosted by growth in UK business

Vodafone's UK business helped drive improved performance across Europe in the first quarter, as it benefited from increasing customer numbers, price rises to contracts and higher roaming and visitor revenue. Service revenue, a key metric that includes sales from contract payments, network use and roaming but not handsets, at the UK business picked up 6.5 per cent in the three months to June 30 from a year earlier, compared with 2 per cent growth in the previous quarter. Total group revenue in the past quarter edged up to €11.3bn, from €11.1bn a year earlier, Vodafone said in a statement on Monday. "The biggest inflationary pressure for Vodafone is energy," he told the Financial Times on Monday. The London-listed telecoms group last year pushed into the domestic broadband market and now provides 8mn UK households with full fibre broadband.

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