Mobile and broadband provider Vodafone said service revenue in Ireland rose in the year to the end of March as the company built on its broadband customer base.
The company said improved customer loyalty also supported revenues, although growth was partially offset by lower mobile termination rates.
Vodafone Ireland’s customer base rose by 18,000 over the year, while broadband customers increased by 22,000. The company also has a fixed wholesale network access partnerships, including a joint venture with Siro, that covers 1.7 million households in Ireland with fibre to the home.
The wider group said it expected to return to top-line growth in Germany, its largest market, this year, driving an increase in cash flow after it said it met expectations for the year to end-March on Tuesday.
The group, which operates in Europe and Africa, reported adjusted core earnings of €10.9 billion, which it said met its €11 billion target when hyperinflation in Turkey was taken into account.
Chief executive Margherita Della Valle has reshaped Vodafone by selling its operations in Spain and Italy and agreeing a merger in Britain, where it will become the mobile market leader when the deal completes in the next few weeks.
But it was hit by a one-off change in German cable TV contract rules, resulting in a 5 per cent decline in service revenue in the country in the last financial year.
“Looking ahead, we expect to see broad-based momentum across Europe and Africa, and for Germany to return to top-line growth during this year,” she said. - Additional reporting: Reuters
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