European recovery will hasten Vodafone earnings growth

18/05/2016 04:49 AST

Vodafone said its recovery would accelerate this year after investment in faster networks boosted demand in Europe and helped the group return to underlying revenue and core earnings growth for the first time since 2008.

CEO Vittorio Colao said a strong year for the world’s second mobile operator had been capped by a recovery in the final quarter in Europe, its largest region which has taken more than five years to nurse back to health.

“We achieved the first quarter of positive revenue growth in Europe since December 2010,” he said.

In Germany, Vodafone was “back in game” against former incumbent Deutsche Telekom, while Italy, another laggard, also recovered in the final quarter, he said.

Its performance in its home market was marred by problems with a new billing system. Colao said the business should be back to normal in the second half of the year.

The company has been spared the drop to fourth place in the consumer market in Britain after Europe on May 11.

Colao said the European Commission had no choice but to block the merger between rivals Telefonica’s O2 and Hutchison’s Three because they were in separate network infrastructure sharing agreements with Vodafone and market leader BT’s EE.

The ruling does not bring any certainty to the market, with the future of both companies in Britain in doubt.


Arab News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
RIBL 13.83 1,519,548
JARIR 177.89 111,251
STC 83.41 257,644
DARALARKAN 13.47 74,648,349

Global Major Indices

Index Closing Change
NIKKEI 225 21,292.29 -96.29 (-0.45%)
DAX 12,002.45 -94.28 (-0.77%)
S&P 500 2,614.45 32.57 (1.26%)

Recent News

Global markets down on trade war worries

05/04/2018

Stock markets recoiled on Wednesday as China retaliated in an escalating trade war with the United States, leaving investors reluctant to take positions in anything but the safest of assets.

The Gulf Today

Egypt to meet investors this week ahead of euro-denominated bond

04/04/2018

Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.

Gulf News

Foreign investment in France hit 10-year high last year

04/04/2018

Foreign investment in France rose 16 per cent in 2017 to levels not seen for a decade as President Emmanuel Macron’s (pictured) bid to attract money from abroad gains pace, a government report said o

Oman Daily Observer

Japan's economy a tricky one to understand

03/04/2018

Explaining Japan’s economy to foreign audiences is hard.
One big reason for this is that explaining something as large and complex as a $5 trillion economy is an inherently difficult task - the

The National

China raises import duties on US products

03/04/2018

China raised import duties on a $3 billion list of US meat, apples and other products on Monday in an escalating dispute with Washington over trade and industrial policy.

The government of

The Gulf Today

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap