Vodafone Group reported higher sales and profits amid a cost-cutting drive that resulted in 1,200 job losses across Europe and shared operations in the three months to the end of June. The telecoms giant did not specify how many UK jobs were affected, though some reductions involved natural attrition. Vodafone is targeting about £700 million in annual cost and capital spending savings by the 2030 financial year, partly driven by its merger with Three UK. Service revenues reached 8.6 billion euros for the first quarter, up 10% year-on-year, while organic service revenue grew 5.2% and adjusted earnings rose 6.7%. The company now expects full-year adjusted earnings between 13 billion and 13.3 billion euros after taking control of Safaricom.
Vodafone Group PLCHigher sales, profits, and raised earnings guidance due to cost-cutting and merger synergies.
Vodafone's full-year adjusted earnings guidance includes Safaricom after taking control, implying positive consolidation impact.