Vodafone makes small return to growth
Vodafone Group has reported a rise in quarterly sales for the first time in three years.
Although organic service revenues were only up by 0.1% in Q4, it follows 10 quarters of decline and indicates that overall earnings could stabilise in 2016.
The operator has attributed the results to its 4G service, which is available across 70% of its European network.
The slight growth has also been viewed as a sign that Europe’s mobile market is edging towards recovery.
“It has been a year of continued progress, culminating with a return to organic growth in Q4. We have seen increasing signs of stabilisation in many of our European markets, supported by improvements in our commercial execution and very strong demand for data,” said Vodafone CEO Vittorio Colao.
“In fixed line, revenue trends are improving supported by accelerating customer growth, and our recent cable acquisitions provide a strong platform for further growth. In emerging markets, our good growth trend has continued, driven by rising data penetration and leading network quality and distribution.”
Driven by rising data penetration, emerging markets also contributed to the operator’s performance – with the company claiming to have 115.5 million data customers in Africa, Middle East and Asia-Pacific.
The group reported core earnings for the year ending March 31 2015 of £42.2billion.