Tuesday, November 15, 2016
Vodafone Europe Begins Bounce Back
Vodafone Group said its service revenue rose 2.3% year-on-year on an organic basis in the six months to September 30th. Vittorio Colao, Group CEO, said: "Europe [was] modestly ahead of our expectations - led by Germany and Italy ... Our substantial network investments and ‘more-for-more’ propositions have allowed us to capture opportunities from strong data demand... As Europe’s fastest-growing broadband operator, we are driving rapid uptake of our consumer fixed and TV services while our wholly converged enterprise business continues to outperform its peers.
"Competition in India has increased in the year, reducing revenue growth and profitability. We have responded to this changing competitive environment by strengthening our data and voice commercial offers and by focusing our participation in the recent spectrum auction on acquiring frequencies in the more successful and profitable areas of the country. Overall, we expect to sustain our underlying performance in the second half of the year and remain on track to meet our full-year objectives despite macroeconomic uncertainties." source: Vodafone statement
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