Vodafone returns to growth in June quarter


Vodafone returns to growth in June quarter

Alex Scroxton

Mobility giant Vodafone has booked organic and reported revenue growth for the first time since the recession hit for the quarter ended 30 June, according to an interim management statement released today.

Chief executive Vittorio Colao said that a "continuing commercial approach in key European markets, focusing especially on data, and ... strong growth in emerging markets" both helped the firm return to growth.

Overall, group sales increased by 4.8% to £11.3bn, with services sales up 4.9% to £10.6bn. Data revenue growth spiked 23.3% to £1.2bn, as Vodafone continued to push sales of smartphone devices and mobile connectivity.

In the UK, services sales were up 0.7% to £1.19bn on the back of 27.8% growth in data revenues.

Vodafone said that higher penetration of mobile Internet bundles, growth in contract customers and improved roaming trends in the UK market all helped offset the negative impact of termination rate cuts in July '09 and April this year, as well as the intense competitive environment.

It boats just over 19 million customers in the UK, but has lost 163,000 in the past quarter.ne

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