Vodafone Group has reported operating profit up 15.4% to €4.3bn on revenue down 2.2% to €46.6bn, primarily due to the de-consolidation of Vodafone Netherlands and FX movements, it says.
Vittorio Colao, outgoing Group Chief Exec', said: "This was a year of significant operational and strategic achievement and strong financial performance. We added a record number of fixed NGN and converged customers in Q4."
He added that mobile data usage continues to grow 'strongly', and that the company grew both revenues and margins in Enterprise, 'despite roaming headwinds.
The group continues to reduce operating costs, and the underlying EBITDA grew 7.9%.
Colao added: "We expect to sustain our profit growth in the year ahead, despite the arrival of a new entrant in Italy and competitive pressure in Spain, supported by the third year in a row of lower net operating costs."
Colao is stepping down in October after ten years at Vodafone's helm, and is being replaced by current CFO Nick Read, previously head of the UK business and before that the Africa, Asia and Middle East division.