Vodafone NZ customer numbers dip

Last updated 09:59 15/11/2012

Relevant offers

World

The emojis that cost over $3000 Marijuana delivered to your door in the US, just like pizza. But is it legal? North Korea's Unit 180, the cyber warfare cell that worries the West Jessica Irvine: You don't have to be a communist to admit capitalism is in crisis Thanks to US President Donald Trump, Washington's portaloo industry is flush Accused tax fraudster spent A$100,000 on strippers and escorts in four months GM to stop selling vehicles in once promising India, exit South Africa Ford to cut 1400 white-collar jobs New Zealand, Australian workers to suffer under Theresa May's immigration pledges Man who stopped WannaCry cyberattack donates US$10,000 reward to charity

Service revenue and customer numbers are continuing to dwindle for telecommunications provider Vodafone Group in New Zealand and Australia.

The telco released its global half-year results to September 30, posting a net loss of £1.98 billion  ($3.87 billion), and an impairment charge of £5.9b related to Europe's financial woes particularly within Vodafone's Italy and Spain operations.

Total revenues also took a 7.4 per cent dive to £21.8b.

Vodafone chief executive, Vittorio Colao, stated the results reflected tough market conditions, which will continue to impact the telco in the short term.

The financial results revealed that service revenue gains in Africa and the Middle East were "more than offset by revenue declines in Australia and New Zealand" but did not specify the service revenue drop in New Zealand.

However, the figures did show Vodafone New Zealand lost 50,000 customers in the six months to September 30.

The Australian arm suffered a service revenue decline of 14.8 per cent and lost 77,000 mobile customers over the same six month period.

The decline was attributed to the telco's 'arresting weakness in brand perception' and is still working on improving its network woes.

The telco recently announced it would cut about 500 jobs and hired a specialised management team in an effort to turn its Australian business around.

The global financial results note the recent purchase of TelstraClear for $840 million.

Ad Feedback

- Computerworld

Special offers

Featured Promotions

Sponsored Content