Vodafone has posted positive half-year results despite losing nearly 50,000 UK customers after hiking bills.
The telecoms company raised prices by 15% in April, contributing to their loss of 49,000 customers.
Despite the drop in users, income rose by 4,1% in the UK, as contract losses were offset by a timely boost in new customers signing up to its digital brand Voxi, which offers unlimited data for social media use.
Vodafone boss Margherita Della Valle has quickly moved to ease fears of job cuts this year, despite the company planning on axing 11,000 jobs by mid-2026. Around a quarter of those cuts have already been made.
Ms Della Valle said: "During the first half of the year, we have delivered improved revenue growth in nearly all of our markets and have returned to growth in Germany in the second quarter.
"Vodafone’s transformation is progressing. Our focus on customers and simplifying our business is beginning to bear fruit, although much more needs to be done.
"We have also announced transactions to strengthen our position in the UK and exit the challenging Spanish market in order to right-size our portfolio for growth."
FTSE 100
The UK's flagship share index, the FTSE100, was up 79-points at 7,519 shortly after opening this morning.
Meanwhile, Brent crude futures were up 0.17% at $82.61 a barrel this morning.
Companies reporting today
- Experian - Half year results
- Intermediate Capital Group - Half year results
- Ninety One - Half year results
- SSE - Half year results