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Vodafone exceed targets annual profit £8.7 billion

Mobile phone company Vodafone have apparently exceeded their targets expected for the year in both data and broadband usage according to a recent article over at google.com

Annual profits have soared to £8.7 billion which has been helped by the £1 billion costs savings programme and also improved revenue trends in the UK and key markets have also helped in lifting the Newbury based company.

Vodafone have said that they expect to return to organic revenues growth in the current financial year. They have also said that revenues in the UK have declined by 4.7% in the year with lower voice revenues and continued intense competition.

Vittorio Colao Vodafone’s Chief Executive has said that Vodafone‘s financial results exceeded their upgraded guidance on all measures. Driven by both mobile data and fixed broadband the revenue trends have improved. Shares for Vodafone opened at 2% higher on Tuesday.