Emerging markets help Vodafone Q1 revenue rise 3.5 per cent to £11.7 billion
22 Jul 2011
Telecom major Vodafone has reported a 3.5-per cent growth in fiscal first quarter (April-June 2011) revenue at 11.7 billion pounds, helped mainly by growth in emerging markets like India.
UK-based Vodafone, whose first-quarter performance was hurt by regulatory pressures in northern Europe and the economic downturn in southern Europe, said it was on track to hit current financial year target of generating up to £11.8 billion in operating profit and up to £6.5 billion in free cash.
Vodafone reported "Strong service revenue growth in India (16.8 per cent), Turkey (32.1 per cent) and its South African unit Vodacom (7.8 per cent)."
"Revenue from our key focus areas of data, enterprise and emerging markets continues to grow strongly," Vodafone chief executive Vittorio Colao said.
Vodafone had free cash flow of 1.2 billion pounds at the end of the April-June quarter.
"With our broad geographical mix and improving market positions, we are well placed for the rest of the financial year," Colao said.