Thursday, February 5, 2015
Vodafone Prepares to Bounce Back
Vodafone said its service revenue declined 0.4% year-on-year to 9.8 billion British pounds (14.9 billion US dollars) on an organic basis in the quarter ending December 31st. A 3% decline in Europe was partially offset by a 6% increase in its operations in Asia, the Middle East, Africa and Pacific. In Italy, service revenue fell 7% and in Spain 9%, but rose 15% in India and 12% in Turkey.
Vittorio Colao, CEO, said: “We have achieved another quarter of improving revenue trends in most of our major markets. Growth in India has accelerated again, driven by data. In Europe, improved commercial execution in both mobile and fixed over the last few quarters, combined with strong data demand and a more stable pricing environment, is supporting the steady recovery in the top line. Our recent cable acquisitions continue to perform well, with good progress made on integration."
Vodafone reported a 39% year-on-year increase in capital expenditure to 2.1 billion pounds in the quarter. It now claims 4G coverage of 65% of the population in the European countries where it operates. source: Vodafone statement
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