VodafoneThree raises annual cost-saving target to £1bn

VodafoneThree has increased its annual cost-saving target to £1 billion by the financial year ending March 2032, up from a previous goal of £700 million. The company aims to reach £800 million in annual savings by 2030.

As part of an expanded growth strategy for the UK market, the company is targeting mid-to-high single-digit annual growth in adjusted earnings between 2025 and 2032. It also intends to more than triple its operating free cash flow during this period.

Vodafone has reaffirmed an £11 billion investment plan over the next decade to upgrade the UK mobile network, strengthen its consumer market position, and expand its business unit. This follows Vodafone’s full takeover of VodafoneThree, which included the acquisition of CK Hutchison’s 49 per cent stake for £4.3 billion.