Vodafone Ireland beats group slump as revenues hit €238m


‘Our team has worked hard to build on the successes of previous quarters as we continue the implementation of our strategy,’ said Anne O’Leary, CEO of Vodafone Ireland.
‘Our team has worked hard to build on the successes of previous quarters as we continue the implementation of our strategy,’ said Anne O’Leary, CEO of Vodafone Ireland.

Revenue at Vodafone Ireland increased 1.7pc year-on-year to €238.6m in the three months to June 30.

During the period, 12,000 contract customers were added to Vodafone’s customer base. The company now has over 2.2 million customers in Ireland.

The number of fixed broadband customers at Vodafone remained steady at 263,000, the company said in a trading update yesterday.

Meanwhile, mobile data usage increased by 41pc year-on-year to over 17.8 petabytes.

“Quarter one was another positive period of progress for Vodafone Ireland,” Anne O’Leary, chief executive of Vodafone Ireland, said.

“Our team has worked hard to build on the successes of previous quarters as we continue the implementation of our investment, innovation and transformation strategy.”

The company also used the announcement to provide an update on Siro, its joint venture with the ESB, which connects towns to fibre broadband. Connections have now passed over 160,000 premises and is live in 30 towns across Ireland.

The increase in revenue in Ireland went against an overall decline in revenue at group level, with the group reporting a 4.9pc fall in revenues to €10.9bn for the three-month period.

During the period its service revenue growth slowed to 0.3pc, with €9.9bn posted for the quarter, as Vodafone blamed increased competition in Italy and Spain.

This dragged European service revenues down 0.4pc and took the shine off a 7.2pc hike for its Africa, Middle East & Asia Pacific (Amap) division.

India also saw “intense” competition, with service revenues plunging 22.3pc, due largely to the country’s price war.

Vodafone is waiting for clearance for a deal to merge Vodafone India and Idea Cellular, a merger which is set to be completed by the end of August and will help it weather the tough conditions in the market.

The results are CEO Vittorio Colao’s final set of figures before handing over the reins in October.

(Additional reporting from PA)

 

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