Facebook Twitter Instagram
    Trending
    • I’ll Partner With Ndigbo To Industrialise Nigeria – Governor Tambuwal
    • Being A Sexy And Curvy Actress Can Be Depressing– Wumi Toriola
    • Blasphemy: Wole Soyinka Calls For Dismissal Of Abuja National Mosque Imam Over Comments
    • I Will Restore Unity To Nigeria If I Am Elected President In 2023- Atiku Promises
    • TikTok Launches Branded Mission To Promote Brand, Creator Collaborations
    • Interswitch Raises $110 Million In Investment From LeapFrog, Tana Africa Capital
    • Why We Were Ordered By FIFA To Pay Rohr N157m- NFF
    • Naira Marley – “Nobody Should Go to Prison for Weed Smoking.”
    Facebook Twitter Instagram YouTube
    Sync News NigSync News Nig
    • NEWS
      • Business & Economy
      • Politics
      • Banking & Finance
      • Tech & Innovation
      • Health
      • World
    • BRAND NEWS
    • SPORT
      • Football
      • Boxing
      • Basketball
    • ENTERTAINMENT
      • Celebrities
      • Music
      • Movies
    • FEATURED
    • TRAVELS & LIFESTYLE
      • Beauty &Health
      • Fashion
      • Food, Travel, Arts & Culture
      • Relationships & Weddings
    • SYNC TV
    Sync News NigSync News Nig
    Home»News»Vodafone Rebounds Into First-Half Net Profit
    News

    Vodafone Rebounds Into First-Half Net Profit

    Deborah AdegokeBy Deborah AdegokeNovember 16, 2020Updated:November 16, 2020No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    British telecommunications giant Vodafone announced Monday that it rebounded back into profit in the first half of its financial year in a “resilient” performance as it shrugged off the fallout from the coronavirus pandemic.

    Profit after tax hit 1.3 billion euros ($1.5 billion) for the six months to September, the mobile phone giant said in a results statement.

    That followed a net loss of 2.1 billion euros in the same period a year earlier, which came after India’s Supreme Court ordered telecoms companies to pay long-standing bills for past spectrum and licensing fees.

    Vodafone said revenues slid 2.3 percent to 21.4 billion euros in the reporting period, as the pandemic slashed international travel and roaming income and weighed also on handset demand.

    “Today’s results underline increased confidence in our full-year outlook,” said chief executive Nick Read.

    “We are reporting a resilient first-half performance and we continue to see good commercial momentum across the group.

    “The results demonstrate the success of our strategic priorities to date, namely increasing customer loyalty, growing our fixed broadband base, driving digitisation to simplify the company and capture significant cost savings, and deliver 5G efficiently through network sharing.”

    He added however that the deadly coronavirus pandemic was “obscuring” the group’s performance.

    “Covid-19 and the reduction in roaming revenues, through the significant reduction in international travel, is currently obscuring our underlying commercial progress,” Read said.

    “Now, more than ever, the connectivity services we provide are critical for society and the demand is growing for our services.

    Vodafone
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Deborah Adegoke

    Related Posts

    I’ll Partner With Ndigbo To Industrialise Nigeria – Governor Tambuwal

    May 22, 2022

    Blasphemy: Wole Soyinka Calls For Dismissal Of Abuja National Mosque Imam Over Comments

    May 22, 2022

    I Will Restore Unity To Nigeria If I Am Elected President In 2023- Atiku Promises

    May 19, 2022

    Leave A Reply Cancel Reply

    Recent Posts
    • I’ll Partner With Ndigbo To Industrialise Nigeria – Governor Tambuwal
    • Being A Sexy And Curvy Actress Can Be Depressing– Wumi Toriola
    • Blasphemy: Wole Soyinka Calls For Dismissal Of Abuja National Mosque Imam Over Comments
    • I Will Restore Unity To Nigeria If I Am Elected President In 2023- Atiku Promises
    • TikTok Launches Branded Mission To Promote Brand, Creator Collaborations
    Recent Comments
    • Arsenal Beat Liverpool On Penalties To Lift Community Shield - on Chelsea Sign Former PSG Defender Thiago Silva On Initial One-Year Deal
    • Exceptional Keto Diet on Airtel Partners Standard Chartered Bank To Expand Fintech Business
    • Keto Genics BHB on Airtel Partners Standard Chartered Bank To Expand Fintech Business
    • Exceptional Keto Diet on Airtel Partners Standard Chartered Bank To Expand Fintech Business
    • www.ortovivaistica.it on President Buhari Extends Eased COVID-19 Lockdown By Four Weeks
    Archives
    • May 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • March 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • December 2018
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Facebook-f Twitter Instagram
    • Banking & Finance
    • Business & Economy
    • Health
    • Politics
    • World
    • Tech & Innovation

    Copyright ©, 2020-2021 syncnewsng.com. All Rights Reserved