Vodafone announces positive interim results

The mobile communications giant has recorded service revenue growth improvement for the fifth successive quarter

VODAFONE has recorded service revenue growth improvement for the fifth successive quarter, according to the group's latest results.

The mobile communications giant, which has its headquarters in Shaw, announced its interim results for the quarter ending December 31, 2010 today (Thursday), which showed that group service revenue was up 2.5 per cent to £11bn, aided by strong service revenue growth in India, Turkey, the UK and Vodacom.

The company also saw its Europe service revenue growth stay positive at 0.2 per cent, with evident benefits from the introduction of the iPhone in Germany last October, although the southern European markets continued to be impacted by weak economic environments.

The group said that data revenue continues to drive the company's growth strategy, with growth of 27.2 per cent resulting from strong smartphone and mobile connectivity sales.

As a result, Vodafone expects adjusted operating profit to be towards the upper end of the £11.8bn to £12.2bn range, that was communicated in November, taking into account the impact of the Verizon Wireless iPhone launch, which will be separately identified when the preliminary results are released in May.

Chief executive, Vittorio Colao, said: “In addition [to the fifth successive quarter of service revenue growth improvement], Verizon Wireless continues to show strong momentum. Our performance has been driven by the effective execution of our strategy to strengthen our businesses and deliver growth, particularly in data services and emerging markets.”