Vodafone reports slight decline in quarterly revenue

Vodafone has reported a decline in its revenues for the three months to the end of December 2011 of 2.3 per cent to £11.62 billion (US$18.45 billion). On an organic basis, without disposals being included, then revenues would have risen by 1.6 per cent.

The telco said it saw strong service revenue growth in India +20.0 per cent, Vodacom +8.0 per cent and Turkey +23.5 per cent; continued progress in Germany +0.7 per cent and the UK +1.1 per cent.

However, economic conditions in southern Europe showed further deterioration, with revenues declining by -4.9 per cent in Italy; and -8.8 per cent in Spain.

Looking forward, the company said it expects its adjusted operating profit to be in the £11.4 billion to £11.8 billion range, as previously stated. It also expects its EBITDA margin decline to be at a lower rate than in the previous financial year.