Reiterates FY guidance (Il Sole 24 Ore Radiocor) - London, 25 Jul - The UK telecommunications group Vodafone said that in the first quarter ended June 30 total revenue rose 2.8% to 9.036 billion euros with service revenue up 3.2% to 7.465 billion.

Organic service revenue grew 5.4%.

Adjusted EBITDAaL rose 2.1% to 2.681 billion euros, while the margin widened to 29.7% from 29.9%.

The operating profit surged 42.9% to 1.545 billion pounds, driven by a 0.7 billion euro gain on the disposal of an 18% stake in Indus Towers.

Vodafone noted that an initial 500 million euro tranche of share buybacks was almost complete and a second tranche will commence shortly.

The company reiterated its full-year guidance. It expects adjusted EBITDAaL of about 11 billion euros and adjusted free cash flow to be at least 2.4 billion euros.

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(RADIOCOR) 25-07-24 12:10:19 (0364) 5 NNNN