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Business

Vodafone grows for first time since 2008

Opening sequence

Opening sequence

Business

Vodafone grows for first time since 2008

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17:21
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COMING UP:Vodafone grows for first time since 2008

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Transcript

00:00:01
>> It's been a long time coming, but Vodafone says its underlying business is growing again for the first time since 2008, helped by revival in Europe. The world's second largest mobile operator reported full year revenue of 41 billion pounds, an increase of 2.3%. It's a sign that it's multi million pound project spring investment program to improve it's networks is working.
00:00:26
>> I think that the drivers going forward will be that they don't have that cost headwind from the investment into their infrastructure. And as it's gradually realized amongst customers that the quality of the service is picked up. Because of the new infrastructure then actually the customers will come back.
00:00:43
>> Better business in emerging markets has also helped increase demand in South Africa and Egypt, helped boost earnings before interest and tax to 11.6 billion pounds. Just shy of full costs but up to 2.7%.>> The growth is still concentrated inside, in regions outside of the core of Europe.
00:01:05
Turkey and the likes but the core of Europe, the sales slowdown has diminished and so what you look for then is for a bottoming and actually those sales to eventually rise. Vodafone's been moving from traditional mobile services to what it calls, total communication, including the Cloud and the Internet of things.
00:01:25
And there's still work to do, some analyst are disappointed Vodafone's efforts aren't yet translating into revenue growth.
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