Vodafone Group PLC is engaged in providing voice and data communications services for both consumers and business customers, with a significant presence in Europe, the Middle East, Africa and the Asia Pacific region. I have a holding in my income portfolio (epic code: VOD).
Vodafone released their third quarter IMS yesterday. Their group revenue in the quarter increased 13.5% to £10.9bn and 0.7% on an organic basis (excluding acquisitions and at constant currencies) and service revenue declined by 0.4% on an organic basis. This is an improvement on the interim comparisons (see here ) where group revenues were down 3% and service revenues down 2.8% on an organic basis
The main areas of organic service growth were India 15%; Turkey 11.8% and Qatar 16.6%. The UK has returned to growth with 0.9% and the rest of Europe declined at slower rates than last year.
Management stated that net debt increased by £0.5bn in the quarter to £22.3bn and with respect to the guidance for the year said: "...The performance of the Group remains in line with our expectations. Consequently we remain on target to deliver EBITDA for the 2015 financial year in the range of £11.6 billion to £11.9 billion, and expect free cash flow to be positive, after all capex. Guidance excludes Ono..."
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