20 Jul 2012Corporate and Financial
< 1 minute read
- Group service revenue increased 0.6%*; excluding mobile termination rate (‘MTR’) cuts growth was 2.3%*
- Continued strong service revenue growth in emerging markets: Vodacom 5.7%*, India 16.2%* and Turkey 18.7%*
- Mixed trends in Europe: service revenue growth strong in Germany at 4.2%*; UK -0.8%* due to increased competition and a weaker economy; conditions in Italy (-7.7%*) and Spain (-10.0%*) remain challenging
- Verizon Wireless (‘VZW’) service revenue grew 8.2%* driven by data
- Group data revenue grew 17.1%* reflecting an increase in Europe smartphone penetration to 28.7%
- £0.9 billion of free cash flow after capital investment of £1.1 billion
- Good progress in strengthening our business: proposed acquisitions of Cable & Wireless Worldwide and TelstraClear; network sharing agreements in five markets
- Net debt reduced to £22.7 billion after receipt of final SoftBank proceeds (£1.5 billion) and £0.8 billion of share buybacks (£6.8 billion share buyback programmes almost complete)
- Full year outlook confirmed
Change year-on-year | |||
Quarter ended June 2012 | Reported | Organic | |
£m | % | % | |
Group revenue | 10,767 | -7.7 | 1 |
Group service revenue | 9,975 | -8.1 | 0.6 |
Europe | 6,943 | -8.7 | -1.6 |
Africa, Middle East and Asia Pacific | 3,033 | -4 | 6.1 |
Capital expenditure | 1,116 | -7.5 | |
Free cash flow | 943 | -24.9 |
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