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Vodafone Group holds organic growth steady at 2.2% in Q2

2016-07-22 08:23:00| Telecompaper Headlines

(Telecompaper) Vodafone Group maintained its organic service revenue growth at 2.2 percent in the second quarter, led by 7.7 percent growth in the AMAP region and a 0.3 percent increase in Europe. Despite the cut in roaming fees, most of its main markets in Europe were still growing. Organic service revenue for the three months to June was up 1.6 percent year-on-year in Germany, 1.3 percent in Spain and 1.2 percent in Italy; the UK posted a decline, of 3.2 percent, and the Netherlands and Greece were also lower. In its biggest emerging markets, growth reached 6.4 percent in India, 19.5 percent in Turkey and 9.4 percent in Egypt. Total revenue was still down 4.5 percent to EUR 13.377 billion, with a 5.4 point negative impact from exchange rates. On a reported basis, service revenue fell 1.7 percent in Europe to EUR 8.129 billion, and AMAP was down 5.5 percent to EUR 3.906 billion.

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