Vodafone revenue boosted 4 percent
Vodafone Group Plc, the world's biggest mobile-phone company by sales, said third-quarter revenue from wireless services rose 4.2 percent on growth in India and Turkey.
Growth in the quarter ended Dec 31 decelerated from 4.8 percent a year earlier. Service revenue includes voice, data, messaging and broadband sales. It excludes sales of handsets and accessories.
Chief Executive Officer Arun Sarin said the Newbury, England-based company achieved "modest" revenue gains in Europe by offsetting 15 percent to 20 percent price declines with sales of wireless Internet and e-mail services. Vodafone was also helped by new customers in Turkey and India, Sarin said.
"It's clear that data will stimulate growth opportunities in Europe over the next two years," said London-based Bear Stearns analyst Maurice Patrick.
"The company is clearly looking for growth in emerging markets."
In May, the company bought a controlling stake in Hutchison Essar Ltd, now India's third-largest wireless operator, for $10.7 billion.
Sales in the period jumped 16 percent to 9.2 billion pounds, Vodafone said. Service revenue rose 4.2 percent to 8.39 billion pounds from 7.23 billion pounds.
Vodafone fell 3.2 pence, or 1.8 percent, to 173.7 pence at 9:18 am in London trading.
Agencies
(China Daily 02/01/2008 page17)
