Vodafone UK sees annual revenue drop to £6.9 billion

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The whole group saw losses from £49 billion to £47 billion over the course of its latest financial year

Vodafone UK has seen its annual revenues for the three months ending March 31 drop from £8.4 billion to £6.9 billion.

Over £4.7 billion came from mobile, whilst the remainder came from the likes of fixed line products. Mobile revenue for this year dropped from £5.6 billion the previous year.

Overall Group revenue totalled £47 billion, down from £49 billion over the last 12 months. Operating profit, however did increase from £1.3 billion to £3.7 billion. Losses across the whole Group for the financial year increased from £5.1 billion to £6.07 billion.

Mobile revenues across the entire business dropped from £32 billion to £30 billion. The Group claims foreign exchange movements were the main contributor towards the declines.

Data traffic for Q4 grew by 62 per cent. Vodafone Group claims it now has 75 million 4G customers across 21 countries overall (including Germany, Italy, Spain and India), with 15.7 million of these added in the second half of the financial year.

Vodafone Group chief executive Vittorio Colao said: “Our focus on excellence in customer experience has enabled further improvements in our overall commercial and financial performance during the year.

“Sustained investment in network quality has provided the platform to offer more generous plans to our mobile customers in Europe, stabilising contract ARPU, and has allowed us to capture strong data growth in our emerging markets operations.

“We continue to be Europe’s fastest growing broadband provider, seizing the opportunities created by convergence and winning revenue market share, supported also by our Enterprise business which continues to outperform its peers.”

More to follow.

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