Vodafone confident on 2010 performance

Vodafone is confident it will turn an operating profit of £11.4-11.8 billion ($18-18.7 billion) in fiscal 2010, after growing revenues in FYQ310, which covers the three months to end December.

Group revenue in FYQ310 was up 10.3% year-on-year to £11.5 billion, and service revenues by 11% to £10.7 billion, as strong sales of smartphones led to a recovery in the carrier’s European markets.
A decline in European voice revenues was offset by increases in messaging, data, and fixed line revenues, which resulted in a 2.8% year-on-year rise to £7.2 billion.
The carrier says mobile internet revenues grew 27% year-on-year, as more data bundles were sold and demand for smartphones increased. A total of 1.4 million new subscribers were added in the region, leaving Vodafone with 114 million European subs at December 31, some 30 million of which are active data users.
The carrier reported a rise in Africa and Central Europe service revenues of 56.7% to £2.1 billion during the quarter, though it notes the figure actually fell 0.5% on an organic basis.
Further growth in service revenues was recorded in the Asia Pacific and Middle East region, with the reported £1.6 billion up 9.7% year-on-year. Much of that growth was attributed to increased revenues from India, which were up 13.8% year-on-year.
Group data revenue exceeded £1 billion for the first time, an increase of 17.7% on FYQ309.
Chief executive Vittorio Colao says the results show the carrier is “on track to deliver on our strategic priorities in the current financial year.”