Business Technology

Friday 20 September 2019

Revenue up at Vodafone Ireland, as group CEO vows to cut costs

Anne O’Leary, CEO of Vodafone Ireland.
Anne O’Leary, CEO of Vodafone Ireland.
Ellie Donnelly

Ellie Donnelly

Vodafone Ireland’s service revenue grew to €241m in its second quarter, up 3.3pc year on year.

In a trading update today the company said its mobile customer base in Ireland grew by over 8,000 during the quarter, with contract customers increasing by nearly 4pc year-on-year.

Mobile data usage increased by 44.1pc year-on-year to over 21.2 petabytes of data for the first time.

SIRO, Vodafone’s joint venture with the ESB, has now passed 200,000 premises, as it continues to build out its network across towns and cities in Ireland, the group said.

Commenting on the update, Anne O’Leary, CEO of Vodafone Ireland, said the group delivered another "strong" quarter and is performing "very much in line with expectations, with continued growth across a number of key areas – particularly mobile."

"We remain focused on our strategic objectives of supporting the creation of a Gigabit Society in Ireland through the roll out of rural broadband via SIRO, which passed 200,000 premises during the period," Ms O’Leary added.

Meanwhile Nick Read, the new CEO of the Vodafone group, said he would reduce operating costs by €1.2bn by 2021 and review its tower assets to drive returns after its organic revenue grew by 0.8pc in the first half of the year.

"My new strategic priorities focus on (...) radically simplifying our operating model and generating better returns from our infrastructure assets," Mr Read said.

Vodafone group reported service revenue of €19.7bn and adjusted earnings of €7.08bn, up 2.9pc on an organic basis, for its first half, broadly in line with market forecasts.

(Additional reporting Reuters)

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