India and Turkey offset weak Europe for Vodafone

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India and Turkey offset weak Europe for Vodafone

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Vodafone latest figures show a slowing of sales growth, but it was able to reassure nervous investors with its activity in faster-growing markets such as India – with revenue up by 17 percent and Turkey where they rose by nearly a third.

Those countries are helping the world’s largest mobile company to withstand reduced demand in Europe where new government regulations are eating into profits.

“We have made a good start to the year, reporting robust results despite challenging macroeconomic conditions across southern European economies and the impact of cuts to mobile termination rates,” Vodafone Chief Executive Vittorio Colao said.

“With our broad geographical mix and improving market positions, we are well placed for the rest of the financial year,” he added.