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Vodafone announces its trading update for the quarter ended June 2022

Vodafone Group CEO Nick Read conceded the UK-based operator group was not immune to macroeconomic challenges, but insisted it remained on track to meet guidance for its full year performance after a broadly positive fiscal Q1.

In comments accompanying Vodafone’s numbers for the three months to end-June, Read highlighted growth in Europe and Africa along with a stabilisation of its business in Germany, which had struggled in the year to end-March.

Revenue in the market was flat at €2.9 billion, with Vodafone’s units in Italy and Spain recording declines.

Vodafone’s UK unit recorded organic service revenue growth of 6.5 per cent, with South Africa-based Vodacom Group recording a 2.9 per cent increase in overall sales.

Overall, group service revenue grew 1.3 per cent in reported terms to €9.5 billion and total revenue 1.6 per cent to €11.3 billion.

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