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Vodafone reports 14% rise in first-half revenue

Vodafone Group, the world's largest mobile phone company, has reported a 14% rise in global revenue from existing operations for the first half of its 2002-2003 financial year.

Including the company's Japanese acquisitions, revenue surged 67% to £14.9bn for the period ending 30 September.

In the second half of the last financial year, J-Phone and Japan Telecom became Vodafone subsidiaries and were consolidated in its accounts for the first time.

Vodafone cut its first-half net loss to £4.34bn from £9.74bn for the same period the year before.

Excluding goodwill and exceptional items, the company made a pretax profit of £4.3bn for the half-year, a 41% increase on the previous year.

The company added 9.4 million subscribers through organic growth in the 12-month period ending 30 September, bringing the proportionate total (the total adjusted in proportion to its holding in the operating subsidiaries) to 107.5 million.

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