Vodafone has released its financial results for the quarter ended 30 June 2008 with the following highlights:
- Revenue of GBP 9.8 billion, up 19.1 percent
- Group data revenue up 50.6 percent to USD 664 million
- Total communications services now at 15 percent of Group revenue
- Proportionate mobile customer base of 269.0 million, up 8.5 million in the quarter
And the following highlights in the European market:
- Service revenue up 15.7 percent driven by strong foreign exchange
- Spain particularly impacted by economic and competitive effects
Arun Sarin, Chief Executive, commented: “Notwithstanding this more challenging operating environment, we continue to benefit from a diversity of assets and services, with strong revenue growth in EMAPA and another good quarter of data revenue growth offsetting weakness in Spain. Whilst we expect revenue around the bottom of the outlook range, our continued focus on cost reduction enables us to reiterate our operating profit and cash flow guidance for the year.”