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Vodafone organic growth accelerates to 2.5% in Q4
2016-05-17 08:13:00| Telecompaper Headlines
(Telecompaper) Vodafone reported a drop in results for its fiscal year to March, but said underlying trends in revenue and profit were improving. Group revenue for the year dropped 3.0 percent to GBP 41.0 billion, hurt by foreign exchange rate movements, and EBITDA was down 2.5 percent to GBP 11.6 billion. On an organic basis, service revenue returned to growth of 1.5 percent, with a gradual improvement over the year to growth of 2.5 percent in the final quarter. Europe recovered to organic service revenue growth of 0.5 percent in Q4, and growth in Africa, Middle East and Asia Pacific (AMAP) accelerated to 8.1 percent in the quarter. Adjusted operating profit fell by 11.1 percent to GBP 3.1 billion for the year, due to the increase in depreciation and amortisation resulting from the Project Spring investment programme.
Tags: growth
organic
vodafone
q4
Category:Telecommunications