2/3/2009 9:33:00 AM
Weak pound boosts Vodafone revenues
Vodafone has reported a 14.3% surge in revenue, as the weaker pound added value to its overseas sales. The operator reported its results for the quarter ended December 31, today (February 3).
The company made £10.7bn revenue in the final quarter of last year, and is predicting full year revenue of between £40.6bn and £41.5bn – up from its previous range of £38.8bn to £39.7bn. It does not publish a pre-tax profit figure for the quarter.
In the UK, revenue from voice calls on pre-paid tariffs declined. However, it made more money from mobile internet services.
Revenue in Spain continued to slide and although service revenue in India grew by 37.3%, growth was still slower than the previous quarter.
Vodafone chief executive, Vittorio Colao, said: ‘In the context of the current economic environment, we have continued to implement our strategy, with an emphasis on customer value, mobile data, Enterprise and fixed broadband.’
Colao added that the operator had ‘made progress’ on plans it announced in November last year, to reduce costs by £1bn by March 2011.