2/3/2009 12:28:00 PM
Vodafone MVNOs halt sliding revenue
Vodafone revenue in the UK continued to drop in the final three months of 2008 compared to the same period last year, but the level of the fall was not as dramatic as previous quarters.
The success of MVNOs Lebara and Asda Mobile and the growth of mobile broadband were credited as the main reasons why Vodafone had halted the previous rapid fall in revenues.
The company reported its results for the quarter ended December 31, revealing revenue fell by 0.7% to £1.226bn compared to £1.235bn in the same period last year.
The operator said business had been driven by the wholesale sector, stabilising its growth in the struggling UK market. While the UK segment reported lower voice usage, the decline was offset by the growth of its MVNOs, as well as sales of dongles.
Data revenues in the UK grew by 30.9% - a similar rate to the general industry rate of growth.
Meanwhile, Vodafone Group reported an overall 14.3% revenue surge in revenue to £10.7bn, due to the weaker pound and Indian markets.
In November, the operator announced plans to save £1bn in costs by March 2011. Vodafone chief Vittorio Colao said that the company had ‘made progress’ and would continue to focus on mobile data and fixed broadband to drive sales.