Wednesday, May 21, 2014
Vodafone Remains Mired in Europe
The Vodafone Group reported a 4% decline in service revenue on an organic basis in the quarter ending March 31st. For the year to March 31, group service revenue was down 4.3% as Vodafone's European operations continued to decline. However, service revenues rose 13% in India, 4.1% in the Vodacom group (southern Africa) and 7.9% in Turkey.
Total group revenue for the year to March 31 was down 2.2% on an organic basis to 38.35 billion British pounds (64.8 billion US dollars). Vodafone said it plans to spend about 19 billion pounds in capex in the two years to March 2016, "with capital intensity subsequently normalising to 13-14% of annual revenue." source: Vodafone presentation
WHERE WE'RE HEADED: TELECOMS TRENDS AROUND THE WORLD: SUBSCRIBE HERE