Feeds

Vodafone squirrels cash into Blighty nightly as Europe falters

Spain, Italy disappointing - Turkey, India a pleasant surprise

The Power of One Infographic

Vodafone's numbers for the tail-end of 2011 show the network doing pretty well, though it admitted husbanding cash back to the UK nightly just to be on the safe side.

It won’t surprise anyone that trading in Italy and Spain has been a bit grim lately, and Vodafone hasn't broken the figures out for Greece but it has pulled out of merger talks with Greek telco Wind Hellas in the region. But things are a bit more optimistic in India and other developing markets, leading to numbers just shy of expectations but not enough to knock the year-end forecasts.

Vodafone's year ends with April, so these aren't full-year figures, just a statement of account for the third quarter of the year.

UK revenue was slightly up, by 1.1 per cent to £1.27bn – thanks to all those smartphones needing more data. Revenue from Germany was also up, but by less than a single percentage. That was more than offset by drops of 8.8 per cent in Spain and 4.9 per cent in Italy, with CEO Vittorio Colao predicting that Italy won't follow Spain's example.

Turkey saw the biggest growth, with revenue up 23.5 per cent, but Vodafone's operations in India increased by 20 per cent – and that was before a load of competitors had their 2G licences stripped from them.

But the financial instability is concerning the company, which admits to shifting spare cash back to the UK each night for safe-keeping, which seems a reassuring thought. ®

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Google Nest, ARM, Samsung pull out Thread to strangle ZigBee
But there's a flaw in Google's IP-based IoT system
Orange spent weekend spamming customers with TXTs
Zero, not infinity, is the Magic Number customers want
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
'Two-speed internet' storm turns FCC.gov into zero-speed website
Deadline for comments on net neutrality shake-up extended to Friday
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
NBN Co execs: No FTTN product until 2015
Faster? Not yet. Cheaper? No data
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.