Vodafone increases customer base


Mobile phone giant Vodafone announced today that it had attracted 4.5 million new customers in the three months to June 30th.

The company said that it had acquired a further 11.7 million customers following its purchase of the Turkish mobile phone operator, Telsim.

The new custom has seen Vodafone's total customer base increase to 186.8 million.

Organic mobile revenue during the quarter increased by 6.4 per cent, with revenue growth of 1.3 per cent reported within the European market.

Vodafone said that it expected to report full-year organic revenue growth in the region of five to 6.5 per cent.

The company's chief executive, Arun Sarin, said the results represented a "robust operating performance in testing markets with revenue for the quarter in line with expectations".

"While many markets in Europe remain highly competitive, we are on track with our revenue and cost initiatives in this region," he added.

But despite Vodafone's optimism, Mr Sarin has come under increasing pressure to quit his post, with many of the company's key shareholders holding the chief executive responsible for the mobile phone operator's waning performance amid slowing European markets.

The company announced in May that its losses had increased to £14.8 million.

Morley Fund Management, which owns a 2.1 per cent share in Vodafone, said on Friday that it planned to vote against the reappointment of Mr Sarin as chief executive during the firm's annual general meeting tomorrow.

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