Tuesday 21 November 2017

Vodafone Ireland stems dropping sales with revenue almost flat

Codaline perform Vodafone Live 4G show from Spike Island
Codaline perform Vodafone Live 4G show from Spike Island
Man speaks on his mobile phone as he walks past the logos of Vodafone

Sales at Vodafone Ireland marginally declined by 0.1pc in the quarter to the end of June after the company shed 16,000 mobile prepay customers.

However, this was almost exactly balanced out by an 18,000 increase of contract customers and a 1,000 rise in the number of fixed line broadband consumers.

The performance was improved compared to the quarter beforehand, when revenue declined by 6.4pc.

The figures came as the Vodafone group reported an acceleration in its main quarterly sales growth this morning as a cable TV acquisition in its biggest market Germany lifted sales and consolidated the overall return to growth for the British firm.

The world's second-largest mobile operator said first-quarter organic service revenue grew 0.8 percent, ahead of the 0.1 percent it recorded in the fourth quarter and better than most analysts had expected.

Group revenue for the quarter edged down 0.9 percent to £10.11bn from last year on a reported basis, but was up 3.3 percent on an organic basis.

"Our emerging markets have maintained their strong momentum and more of our European businesses are returning to growth, as customer demand for 4G and data takes off," Chief Executive Vittorio Colao said.

The group reiterated its outlook for the full year.

Vodafone shares rose 4.2pc this year through Thursday. They last traded at 231.95 pence in London for a market capitalization of £61.5bn.

Reuters

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