Mobile data surges at Vodfone
Mobile data revenues surged almost 25% to form just under 14% of Vodafone’s total sales for the quarter to June, the mobile network operator reported this morning.
Excluding the effects of regulatory cuts in the price of mobile termination rates (MTR), business in northern Europe grew strongly in Germany (4.0%) and UK (5.3%), but southern Europe, Italy (-1.5%) and Spain (-9.9%) continued to reflect the wider economic problems facing the countries. Business in Asia, Middle East and Pacific regions continued to grow strongly, particularly India (16.8%) and South Africa (7.8%).
CEO Vittorio Colao said the company had made a good start to the year. “Revenue from our key focus areas of data, enterprise and emerging markets continues to grow strongly,” he said.
He confirmed dividend guidance for the year ahead. Vodafone’s currently pays 6.3% on a share price which 12% up on a year ago at 164p.