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Friday, July 22, 2011

Quarterly results from Vodafone

Vodafone has published an interim management statement for the three-month period that ended on 30th June 2011.

It says group service revenue was up 1.5% year-on-year, with reduced mobile termination rates holding it back from what would otherwise have been a 3.9% increase. In the UK, service revenue was up 1.7%.

Group data revenue increased by 24.5% to £1.5 billion, while messaging revenue grew by 5.3% to £1.3 billion and fixed revenue grew 6.4% to £0.9 billion. Total revenue was up 2.3% to £11.6 billion.

Vittorio Colao, Vodafone’s Chief Executive, said “We have made a good start to the year, reporting robust results despite challenging macroeconomic conditions across southern European economies and the impact of cuts to mobile termination rates. Revenue from our key focus areas of data, enterprise and emerging markets continues to grow strongly. With our broad geographical mix and improving market positions, we are well placed for the rest of the financial year.”

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