Vodafone has upgraded its financial guidance for the year, stating it now expects to deliver results at the upper end of its revised range.
The European and African mobile operator attributed the improved outlook to a strong start to the fiscal year and the financial impact of its deal involving Safaricom, its Kenyan subsidiary.
Vodafone noted that first-quarter trading was solid, providing a foundation for the more optimistic full-year projection.
The guidance increase signals management’s confidence in the near-term trajectory of the business, particularly as the company integrates the value from its African operations.
Vodafone noted that first-quarter trading was solid, providing a foundation for the more optimistic full-year projection.
This development follows a period of significant shareholder activity for the London-listed group.
Shares in Vodafone climbed sharply in recent London trading after reports confirmed that French telecommunications investor Xavier Niel had become the company’s largest shareholder.