Vodafone reports sixth quarter of growth as sales rise
Mobile phone giant Vodafone has notched up its sixth consecutive quarter of revenue growth, lifted by a strong performance in the emerging markets.
The group saw organic service revenue - a closely-watched measure of sales - rise 1.4% to £9.2bn in the three months to the end of December last year, beating the 1.2% rise in the previous quarter.
It was buoyed by "strong" service revenue growth in its India and South African businesses, which grew 2.3% and 7.2% respectively in the third quarter.
The Newbury-based company also saw a brightening picture across Europe, with service revenues continuing to recover, down 0.6% in the three months to the end of December last year, compared to a 1% drop in the previous quarter.
The group also confirmed that it was on course to hit full-year earnings before interest, tax, depreciation and amortisation of between £11.7bn and £12bn.
Shares in the FTSE 100 company were up 2% in early trading as investors digested the financial update.
It came just days after it confirmed talks were under way with cable firm Liberty Global over a joint venture in the Netherlands.
Vodafone - which had decided to abandon talks with Liberty Global six months earlier over a possible asset swap - said the discussions were ongoing and stressed they "do not extend beyond the creation of a joint venture in the Netherlands".
Vittorio Colao, Vodafone group chief executive, hailed the boost in service revenues over the third quarter, stating the business had taken "another step forward".