Vodafone Group reports 1H 2008/09 financials; cuts full year revenue forecast

11 Nov 2008

UK-based mobile group Vodafone has released its financial results for its first half of fiscal year 2008/09, reporting that in the six months ended 30 September 2008 group revenue rose 17% to GBP19.9 billion (USD31.4 billion), with data revenue accounting for 7% of total revenues, and increasing 48% year-on-year to GBP1.4 billion. Despite the increase, the group has cut its full-year forecast for revenues to GBP38.8-39.7 billion, down from GBP39.9-40.7 billion, citing a more difficult macroeconomic environment. Vodafone has also announced that it plans to reduce operating costs by approximately GBP1 billion by the 2011 financial year. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the group increased 10.3% year-on-year to GBP7.24 billion, while adjusted operating profit for the six-month period was up 10.5% to GBP5.77 billion.

United Kingdom, Vodafone Group