Wednesday, May 20, 2015
Vodafone Returns to Growth (Just)
Vodafone reported a 0.1% year-on-year organic rise in service revenues in the quarter ending March 31. In Europe organic service revenue fell more than 2%, offset by a 6% rise in AMAP (Asia, Middle East, Africa and Pacific) organic service revenue "led by strong customer growth and rising data penetration." For the year to March 31, group revenue declined almost 1% on an organic basis to 42.2 billion British pounds (62.6 billion US dollars).
Vittorio Colao, Group CEO, commented: “It has been a year of continued progress, culminating with a return to organic growth in Q4. We have seen increasing signs of stabilisation in many of our European markets, supported by improvements in our commercial execution and very strong demand for data." Source: Vodafone statement
For more analysis of Vodafone's financial performance and how it compares with its peers, see the report on Europe's big five telcos.
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