Vodafone exceeds its Target for the Year
It has been reported that the broadband giant Vodafone has exceeded its target for the year. The provider's annual profit has soared up to £8.7 billion due to the growth in mobile data and fixed broadband usage. The £1 billion savings programme and the advanced revenue status of markets like UK has also contributed to this hike in revenue. Vittorio Colao, the Chief Executive Officer of Vodafone said that the revenue has showed an immense growth in fourth quarter due to the growth in broadband and mobile data. The shares of Vodafone too displayed a hike of 2% today. Check broadband availability in your area and find latest offers from broadband comparison website in UK.
Vodafone has planned to return to organic revenue growth this year. But this will heavily rely on the economic conditions in Europe. The company evaluated that the revenues in UK has declined by 4.7% in the year. The intense competition and the lower voice revenue too continued to sustain, providing a tough time for the company to come up. However, the revenue from messaging and broadband counterbalanced this. The penetration into iPhone market too helped the broadband provider to reduce its revenue decline of fourth quarter to 2.6% from 3.2% in the previous year.
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