Vodafone reports 3Q results

31 Jan 2007

Vodafone Group has announced its key performance indicators for the quarter ended 31 December 2006. Proportionate mobile revenues grew by 6.1% year-on-year, as the company’s emerging markets made up for slower expansion in western Europe. The company said that during the third quarter, revenue jumped 29.7% in Romania, 42% in Egypt and 22.6% in South Africa. The Newbury-based group did not report profit figures for the quarter, but said full-year results (ending March) will be in line with market expectations. At the end of 2006 the company counted 198.6 million total proportionate subscribers, an increase of 8.7 million on the previous quarter. Of the total, 13.6 million were connected to 3G networks, up by 2.5 million at the end of September.

Vodafone chief executive Arun Sarin has the backing of the board to make a play for India’s Hutchison Essar. Speaking at a press event, Mr Sarin said of the deal, ‘clearly it’s a very good opportunity but we’re going to be financially disciplined. We’re not going to go over the top.’ He added that the auction may still take some weeks.

United Kingdom, Vodafone Group