Vodafone 2007' 08 FY revenue up on emerging markets, India revenues up by 50%
May, 28th 2008
Vodafone announced its much-expected solid full year results posting 14.1 percent hike in companys revenues to 35.5 billion pounds, contributed by fine performance in emerging markets worldwide.
The companys EBITDA grew 10.2 percent to 13.2 billion pounds while its operating profit mounted 5.7 percent to 10.1 billion pounds. Vodafone acknowledged robust business growth in the Eastern Europe, Middle East, Africa & Asia and Pacific region especially India which shows over 50 percent growth rate, behind companys overall revenue growth.
Out of the companys proportionate 260 million mobile customers worldwide, India accounts for 44 million customers, claims the company.
Speaking about India business, Vodafone CEO Arun Sarin said Revenues increased by 50 per cent during the year driven by rapid expansion of the customer base with an average of 1.5 million net additions per month since acquisition.
Vodafone promising a positive outlook for 2009 further entered the fixed line phone business in Ireland to give tough competition to Irelands Eircom. Vodafone Ireland announced a 49 monthly rental broadband service which includes connection, line rental, broadband up to 2MB, local and national landline calls and unlimited calls to three Vodafone numbers.