Subscribe For Free

Vodafone Group service revenue drops 1.4pc for Q1

Paul Lipscombe
July 24, 2020

Revenue in the UK business down 1.9pc, but better than other European markets

Vodafone has announced overall group revenue figures dropped 1.4 per cent year-on-year for the first quarter.

The operator today (July 24) provided its fiscal Q1 trading update, with the Covid-19 pandemic largely responsible for the drop.

Overall Vodafone Group revenue dropped to £9.56 billion, from £9.7 billion the previous year.

For the UK the overall service revenue dropped 1.9 per cent. Vodafone put this down to lower roaming visitor revenue, lower incoming revenue, lower business revenue due to project delays.

But the overall mobile contract customer base increased by 61,000 for the quarter, up from 51,000 in Q4.

This was driven by a company all-time low mobile churn of 11.4 per cent. Vodafone also added 74,000 commercial broadband customers for the quarter.

Comparatively in Europe, Germany’s revenue growth remained flat.

However both Italy and Spain experienced worse drops in the UK, at 6.5pc and 6.9 pc respectively.

Share this article