Vodafone: first-quarter sales in line with expectations.
(CercleFinance.com) - Vodafone said on Friday that its total first-quarter revenue declined 3.
3%, in line with management's expectations for financial year 2017/18.
The British mobile phone company said the decline included a 4.2% negative impact from the deconsolidation of Vodafone Netherlands, and a 2.6% drop from the depreciation of the pound sterling.
Vodafone said revenues fell to under 11.5 billion pounds in the three months to end-June, compared with 11.9 billion pounds in the same period a year ago.
In Europe, revenue decreased 4.8% over the quarter, with a 5.6% negative impact from the deconsolidation of Vodafone Netherlands.
In Vodafone's "AMAP" region (Africa, Middle East & Asia Pacific), revenue increased 1.2%.
However, on an organic basis, service revenue increased 7.9% - driven by strong commercial momentum in South Africa, Turkey and Egypt.
The company said this performance has made it confident enough to reiterate its outlook for the full-year.
Last May, the operator said it was aiming at organic adjusted EBITDA growth of 4%-8%, with free cash flow of around 5 billion euros, over the full year.
Vodafone shares are currently up 1.5% at 228.25 pence, outperforming the 0.6% rise in the STOXX Europe 600 Optimised Telecommunications index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
3%, in line with management's expectations for financial year 2017/18.
The British mobile phone company said the decline included a 4.2% negative impact from the deconsolidation of Vodafone Netherlands, and a 2.6% drop from the depreciation of the pound sterling.
Vodafone said revenues fell to under 11.5 billion pounds in the three months to end-June, compared with 11.9 billion pounds in the same period a year ago.
In Europe, revenue decreased 4.8% over the quarter, with a 5.6% negative impact from the deconsolidation of Vodafone Netherlands.
In Vodafone's "AMAP" region (Africa, Middle East & Asia Pacific), revenue increased 1.2%.
However, on an organic basis, service revenue increased 7.9% - driven by strong commercial momentum in South Africa, Turkey and Egypt.
The company said this performance has made it confident enough to reiterate its outlook for the full-year.
Last May, the operator said it was aiming at organic adjusted EBITDA growth of 4%-8%, with free cash flow of around 5 billion euros, over the full year.
Vodafone shares are currently up 1.5% at 228.25 pence, outperforming the 0.6% rise in the STOXX Europe 600 Optimised Telecommunications index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.