Business

Friday July 24, 2009

Vodafone Q1 revenue up 9.3%


LONDON: Vodafone Group PLC said Friday that first-quarter revenue rose 9.3 percent to 10.7 billion pounds ($17.7 billion) on the strength of exchange rate movements and acquisitions.

On a comparable basis, revenue for the quarter ending June 30 was down 2.1 percent, which was attributed to weaker demand across Europe because of the recession.

Revenue on an organic basis was down 8.1 percent in Spain, 4.8 percent in Germany and 4.7 percent in the United Kingdom. Vodafone said it expected to achieve 65 percent of its target of 1 billion pounds in savings by the end of the current financial year.

Shares in the company were up 2.4 percent at 119.65 pence on the London Stock Exchange. - AP

On the Net:
http://www.vodafone.com

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