Vodafone UK Home Broadband Price Cut as Subscribers Reach 278,000

Vodafone has published their latest Q3 2017 (calendar) results, which saw their fixed line broadband base grow by +33,000 in the quarter to total 278,000 (better than the +29K added in Q2). Meanwhile 4G Mobile coverage (population) has reached 97% of the UK and they’ve cut their FTTC prices.

The last quarter has been a quiet one for Vodafone, at least it was aside from the endless rumours of an asset swap with Virgin Media / Liberty Global in the UK (here) and the new deal with Cityfibre to potentially rollout a 1Gbps capable Fibre-to-the-Home (FTTH/P) broadband network for up to 5 million UK premises by 2025 (here).

Meanwhile anybody looking to take Vodafone’s existing unlimited Home Broadband service should note that they’ve just cut £5 off the monthly price of their two superfast (up to 38Mbps and 76Mbps) FTTC “fibre broadband” packages, which makes them just £20 and £25 per month respectively. Super cheap and no setup fee. Hopefully the service quality doesn’t suffer from all these Black Friday deals.

Vittorio Colao, Vodafone Group CEO, said:

“In the first half of the year we have maintained good commercial momentum. Revenue grew organically in the majority of our markets driven by mobile data and our continued success as Europe’s fastest growing broadband provider. Enterprise revenues continue to grow, led by our Internet of Things (‘IoT’), Cloud and Fixed services, and for the second year running we achieved an absolute reduction in our operating costs. As a result, we are able to report a strong financial performance, with substantial EBITDA margin expansion and profit growth, and we are raising our financial outlook for the year.

In India competition remains intense. There are however signs of positive developments in the Indian market, with consolidation of smaller operators and recent price increases from the new entrant. We are making good progress in securing regulatory approvals for our merger with Idea Cellular and in monetising our tower assets.

In the second half of the year we will continue to implement our strategic initiatives, including fibre infrastructure expansion in Germany, Portugal and the UK; our entry into the consumer IoT market with the launch of “V by Vodafone”; and the ‘Digital Vodafone’ programme designed to enhance our customers’ experience, increasing revenues and cost efficiency.”

On the financial side, Vodafone reported six month UK revenues of £3,515m (£930m adjusted EBITDA) and adjusted operating profit of £121m, which is their first positive profit for quite awhile. Otherwise there’s not a lot else to highlight and you can read the full results here.