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November 10, 2010

Vodafone H1 revenue up 3.9%

Expects adjusted operating profit to be between £11.8bn and £12.2bn for FY11

By CBR Staff Writer

Vodafone has reported a revenue of £22.60bn for the six months ended 30 September 2010, an increase of 3.9% as compared to £21.76bn for the same period last year.

The company posted an operating profit of £5.21bn, a decrease of 14.1% compared to H1 the previous year.

Group EBITDA decreased by 1.2% to £7.36bn from £7.46bn in 2009.

For the H1 2010/11, the company reported basic earnings per share of £14.31, their highest ever reported earnings per share in a half-year period.

Segment wise, the company’s voice revenue totalled £13.79bn in H1.

Messaging revenue, data revenue, fixed line revenue and other service revenue all posted positive growth, increasing to £2.48bn, £2.41bn, £1.65bn and £0.90bn, respectively.

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Vodafone chief executive Vittorio Colao said since November 2008 they have seen tangible evidence of accelerating mobile data adoption where consumers and business customers are seizing the benefits of fast, reliable mobile data networks using smartphones and other mobile data devices such as tablets.

"We are also seeing increased interest in broader data-based services like payments via handsets and an initial wave of mobile devices for homes and cars," Colao said.

For the financial year 2011, the company expects adjusted operating profit to be in the range of £11.8bn to £12.2bn and predicts free cash flow to be in excess of £6.5bn.

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