Vodafone profits up 73% but further cost cuts expected

Vodafone profits up 73% but further cost cuts expected



November 10, 2017

Vodafone has announced further cost savings after reporting a 73 per cent increase in profits to £5.7bn for the six months to September, on revenue up 9 per cent to £21.8bn.

The company plans to consolidate its back office functions in order to save a further £1bn by 2012.

Vodafone is accelerating its cost saving plan in order to help offset competitive pressures and cost inflation, while allowing it to invest in opportunities to grow revenues.

In a separate piece of news, Orange launched the iPhone in the UK today, prompting Vodafone to send an email to those who pre-registered an interest in the iPhone on its network.

Vodafone claimed that its network downloaded a 10 minute video from YouTube to the iPhone, faster than any of the others tested.

The company is expected to start offering the iPhone in early 2018.

timyeo

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