Saturday 1 October 2016

Vodafone posts first sign of growth in almost three years

Published 19/05/2015 | 08:16

Man speaks on his mobile phone as he walks past the logos of Vodafone
Man speaks on his mobile phone as he walks past the logos of Vodafone

Vodafone posted a rise in its quarterly sales measurement for the first time in nearly three years this morning, helped by improving trends in its key European markets and demand for 4G mobile services.

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The world's second largest mobile operator said the rise in fourth-quarter organic service revenue of 0.1pc, which followed 10 quarters of declines, meant that its overall earnings could also stabilise in 2016.

The group, which has been hit hard by the constraints on consumer spending in its big European markets and by regulator-imposed price cuts, forecast a range for 2015-16 core earnings of £11.5bn to £12bn (€16bn-€16.8bn).

Compared to the £11.9bn it reported for the 2014-15 period on Tuesday, that could indicate a return to growth following seven straight years of earnings decline on an organic basis.

Reuters

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