VOD Vodafone Group PLC

By Simon Zekaria 

LONDON-- Vodafone Group PLC said on Thursday that revenue rose in the fourth quarter, when measured on a comparable basis with the same period the previous year, on improved demand in Europe, the mobile operator's most important market.

The group said that revenue--its preferred sales measure excluding handset sales, acquisitions and mergers, on a constant currency basis--rose 1.4% in the three months to end-December, a turnaround from a 0.4% decline in the same period the previous year, and up from 1.2% growth in the previous three months. Vodafone's performance was in line with forecasts.

In its latest trading update, the U.K.-based telecommunications group said that in nominal terms, excluding handset sales, revenue fell 6.3% to GBP9.17 billion ($13.4 billion), in line with market forecasts.

Vodafone's major markets in Europe are Germany, Italy and Spain. Analysts say mobile business in Europe is benefiting from demand for faster-speed mobile Internet data and media-driven bundled subscriptions, pricing and a recovery in consumer spending. Vodafone also says the burden of regulation is easing in Europe.

It confirmed its full-year profit guidance.

Vodafone shares closed Wednesday at 213 pence, valuing the company at GBP56.5 billion.

Write to Simon Zekaria at simon.zekaria@wsj.com

(END) Dow Jones Newswires

February 04, 2016 03:02 ET (08:02 GMT)

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