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Thursday, February 4, 2010

Vodafone publishes its quarterly results: now 333 million customers

VodafoneVodafone's results for the three-month period ended 31st December 2009 have revealed an increase in group revenue to £11.5 billion and an increase in the proportionate customer base to 333 million mobile users worldwide. Group service revenue increased year-on-year by 11% to £10.7 billion; 'organic' service revenue (which gives more of a direct comparison) fell by 1.2%, which was better than the previous quarter.

In the UK, organic service revenue fell by 4.9% compared with the same quarter in 2008 – although the trend improved compared to the previous quarter as a result of new customers who joined through the launch of new products and indirect distribution channels. The UK's messaging and data revenue growth was helped by unlimited message plans and the growth in mobile internet bundles. These trends were offset by the continued fall in voice revenue that resulted from competitive price reductions and July's termination rate cut.

Vittorio Colao, Vodafone's Chief Executive, said "Service revenue trends have improved with continuing growth in our data and fixed line revenue. Free cash flow guidance has been raised reflecting the impact of our cost and working capital reduction programmes. We are on track to deliver on our strategic priorities in the current financial year."

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