Fuelled by a strong performance by its Asia-Pacific and Middle East operations, Vodafone said its organic service revenue rose 2.3% year-on-year in the quarter ending September 30. For the six months ending September 30, organic service revenue grew 1.7% to 21.23 billion British pounds (34 billion US dollars).
Going forward, Vodafone said it plans to focus on Europe, Africa and India, where it will exploit the "mobile data growth opportunity", pursue selective expansion in the enterprise market and growth opportunities in the machine-to-machine and financial services sectors. In Europe, it plans to continue its "capital efficient approach."
Vodafone said that "the execution of the updated strategy is targeted to achieve annual growth in organic service revenue of between 1% and 4% in the period to 31 March 2014. Over the same period we expect that EBITDA margins will stabilise, as we benefit from continued cost efficiency, regional scale and improving margins in a number of markets including India." source: Vodafone statement
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