Price increases have had the desired effect at Vodafone, with the telecoms group announcing an increase in its revenue yesterday.
In a first-quarter update, Vodafone said its service revenue performance had improved in almost all its markets, including Germany, its biggest. Such revenue rose to €9.1 billion, up 3.7 per cent on an organic basis in the three months to the end of June, or 1.8 per cent excluding Turkey, which is gripped by hyperinflation.
Margherita Della Valle, Vodafone’s group chief executive, hailed the quarter as “the highest you have seen in Vodafone in 15 years”. Della Valle, 58, was formally promoted to lead the company in April, replacing Nick Read, 58, and in May she outlined dramatic plans to cut 11,000 jobs over
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