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Vodafone group profits up, local customers down

Vodafone group profits up, local customers down

The largest mobile company in the world, Vodafone, reported an increase in revenue, while its local division reported a loss of 25,000 customers in the last financial quarter.

Group service revenues grew by 1.1 per cent as all regions of the global player improved, according to the company’s interim management statement for the quarter ended 30 June, 2010.

"We have achieved these results through our continuing commercial approach in key European markets, focusing especially on data," says chief executive Vittorio Cola. Data revenues grew by 25.4 per cent to £1.2billion ($NZ 2.55).

Meanwhile in New Zealand Vodafone lost 25,000 customers, bringing its total number of subscribers to 2.479 million. The percentage of prepay customers dropped from 70.2 per cent to 69.5 per cent, indicating that it may be low-value customers that are leaving.

In the previous quarter Vodafone NZ gained 11,000 subscribers, of which 70.2 per cent were prepay customers.


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