Irish unit of Vodafone records sharp jump in full-year revenues

A Dublin-headquartered subsidiary of telco Vodafone recorded a sharp rise in revenues last year due to an increase in voice services provided to other group companies and external customers.

Newly-filed documents show turnover at Vodafone Enterprise Global Limited jumped climbed from €82.9 million to €232.2 million in the year ending March 2018.

The rise in revenues, which was primarily due to a rise in contracts for the provision of international interconnect voice and data services, helped the company bounce back from a €1.245 million loss in 2017 to record a €1.874 million a year later.

Vodafone Enterprise Global Limited income largely derives from transfer pricing revenues for services provided to group companies. It also includes voice, IP and data services to third party customers.

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A breakdown of turnover shows €134.8 million came was from other group companies last year.

Company accounts lodged late last year showed Vodafone main Irish business, Vodafone Ireland, posted an operating profit of €12.6 million on flat revenues of €966 million. This compared with an operating loss of €3.1 million the previous year.