Vodafone UK has reported a 5.2 per cent increase in service revenue in its latest quarterly financial update, demonstrating strong performance across both its Consumer and Business segments.
The mobile sector witnessed an addition of 18,000 contract customers, attributed to robust seasonal trading and an improvement in consumer contract retention by 0.8 percentage points year-on-year. Vodafone’s digital sub-brand, VOXI, also saw a substantial increase, adding 26,000 customers during the quarter.
This growth comes amidst a slight decline in fixed wholesale revenue but is bolstered by notable achievements in the mobile and fixed broadband markets.
On the fixed broadband front, Vodafone UK announced the addition of 39,000 broadband customers in Q3, bringing its total to 1.3 million. Thanks to strategic partnerships with CityFibre and Openreach, Vodafone now boasts the capability to provide over 14.5 million households with full fibre broadband, establishing itself as the leading provider in the UK.
Vodafone Business experienced a significant service revenue growth of 5.8 per cent, driven by robust growth in IoT and increased project revenue. This follows the company’s commitment in August 2023 to support Britain’s smart meter network through connectivity solutions in partnership with the Data Communications Company.
The network stated its Three partnership is poised to offer customers enhanced choices and value, foster competition, and facilitate significant investment. An £11 billion investment plan is in place to develop one of Europe’s most advanced standaloneG networks, marking a significant step forward in the UK’s telecommunications landscape.
Margherita Della Valle, Vodafone Group Chief Executive, commented:
We maintained good service revenue momentum in the third quarter across both Europe and Africa, supported by a further acceleration of Vodafone Business, with our Cloud and Internet of Things services growing over 20 per cent. We’ve made good strategic progress in the first nine months of the year, with improvingcustomer satisfaction and three consecutive quarters of service revenue growth in Europe. Our announced transactions in the UK and Spain are progressing well, and we are in active discussions in Italy. We’ve also begun strategic partnerships with Microsoft andAccenture to fast – track our transformation. ”