UK telecoms giant Vodafone bounces back into profit amid pandemic

Source: Xinhua| 2020-11-16 20:30:11|Editor: huaxia

LONDON, Nov. 16 (Xinhua) -- British telecommunications group Vodafone said Monday that it has bounced back into profit in the first half of its financial year with a "resilient financial performance" amid the COVID-19 pandemic.

Even though group revenue declined as "good underlying momentum" was offset by the effects of COVID-19, the company's profit after tax still hit 1.3 billion euros (1.5 billion U.S. dollars) for the six months to September, Vodafone said in a results statement.

"Today's results underline increased confidence in our full year outlook," said Nick Read, the company's chief executive, adding that "we continue to see good commercial momentum across the group." Enditem