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Exchange rates boost Vodafone sales



Britain's Vodafone Vodafone Group Plc is a mobile network operator headquartered in Newbury, Berkshire, England, UK. It is the largest mobile telecommunications network company in the world by turnover and has a market value of about £84.7 billion (July 2007). , the world's biggest mobile phone company by revenue, on Friday Friday: see Sabbath; week.

Friday

young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe]

See : Servant
 reported a nearly 10-percent rise in quarterly revenue which it attributed partly to favourable exchange rates.

The group's revenue was up 10.7 billion pounds (12.5 billion euros, 17.7 billion dollars), up 9.3 percent in April to June, the first quarter of its trading year, compared to the previous quarter, it said in a statement.

It cited "the positive impact of exchange rate movements." At constant exchange rates, the revenue increase worked out at 2.4 percent, it said.

It also cited a boost from "merger and acquisition activity, primarily attributable to the additional stake in Vodacom," a South African operator which it announced it had taken control of in November 2008.

"We continued to see good growth in India and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. ," said chief executive Vittorio Colao in the statement. "Our total communications strategy is delivering well."

Vodafone had earlier reported that net profit in the year to March more than halved halve  
tr.v. halved, halv·ing, halves
1. To divide (something) into two equal portions or parts.

2. To lessen or reduce by half: halved the recipe to serve two.

3.
 after massive charges against its business in the global economic downturn Downturn

The transition point between a rising, expanding economy to a falling, contracting one.


downturn

A decline in security prices or economic activity following a period of rising or stable prices or activity.
.
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Author:AFP
Publication:AFP Global Edition
Date:Jul 24, 2009
Words:174
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