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Vodafone reports weaker revenues but attractions remain for investors
As Vodafone updates the market on Q3 performance Sheridan Admans, investment research manager at The Share Centre, explains what it means for investors.
“Vodafone reported weaker revenues in Southern Europe this morning, led by tough trading in Spain and Italy, which saw sales fall by 3.1% to £7.24bn for the quarter. Weakness in the region was anticipated by analysts, however this was offset in part by improvements in Northern Europe and further growth in emerging markets and US operations.
“As we suspected increased smartphone penetration supported data revenue growth, increasing by 28.1%, and now represents 14.8% of the group’s revenue. We expect this to continue. Data revenue growth was also strong in its US associate business Verizon Wireless.
“Vodafone remains focused on cost efficiencies and development of operations in emerging market territories and the US. The group continues to exhibit defensive qualities, strong levels of free cash flow albeit slightly weaker in the last quarter, debt reduction and concentration on its core growth opportunities. The group is also attractive to income seekers with a forecast dividend yield for 2013 of over 6%. We continue to recommend investors ‘buy’ Vodafone.”
THIS DATA IS PROVIDED BY THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
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Back2012-02-09 12:46:36 © Moneyextra.com