Vodafone boosted by growth in quarterly revenues
Vodafone has posted its first quarterly revenues growth in nearly three years, as conditions improve in many of its European markets.
The mobile phone giant saw a 0.1% rise in service revenues in the three months to March 31, with the UK up 0.6% after returning to growth in the previous quarter.
Its home market was one of only three major European markets to show growth, but Vodafone reported signs of stabilisation in many countries as the region's revenues fell by 2.4% in the most recent quarter.
This compares with 6% growth in Africa, the Middle East and Asia Pacific as the company posted annual earnings in line with guidance at £11.9bn.
In the UK, growing demand for 4G services and the benefits of its £19bn Project Spring investment plan contributed to the best half yearly revenues performance since early 2012.
Chief executive Vittorio Colao said: "We have significant opportunities ahead of us, with only 13% of our European mobile customers using 4G, and our market share in fixed services only a fraction of our share in mobile."
It now has 20.2m 4G customers in 18 markets, resulting in data volumes increasing by 81%.