Emerging Markets Bolster Vodafone

Vodafone reported a 0.8% year-on-year increase in service revenue to 9.2 billion UK pounds on an organic basis in the first quarter, as a 6.1% increase in Africa, the Middle East and Asia Pacific offset a 1.5% decline in Europe.  Group revenue rose 3.3% on an organic basis to 10.1 billion UK pounds (15.7 billion US dollars), boosted by strong equipment sales.

Vodafone said: "In Europe, organic service revenue has continued to recover, declining 1.5% (Q4: -2.6%), supported by more stable pricing environments in many markets and an improved commercial performance, as well as a positive impact from the inclusion of KDG and Ono in organic growth rates." source: Vodafone statement