Vodafone Reports Revenue Growth Despite Decline in Germany

Vodafone reported a 1.7% increase in service revenue to €15.1 billion for the first half of the financial year, buoyed by growth in Turkey and Africa, despite a 6.2% revenue decline in Germany due to a recent law change affecting TV sales. The company aims to complete its merger with Three UK by early 2025, anticipating regulatory approval soon. Vodafone's operating profit rose by 28.3% to €2.4 billion, largely driven by gains from its stake in Indus Towers. CEO Margherita Della Valle expressed confidence in the company's turnaround strategy, which includes divesting businesses in various countries. The company reiterated its full-year financial targets, aiming for adjusted core earnings of around €11 billion. Additionally, Vodacom Group reported modest revenue growth amid currency challenges, highlighting successful financial service initiatives in South Africa.