8.9% growth in Vodafone Egypt revenues at end of March

Vodafone Egypt’s revenue grew by 8.9 percent over the previous financial year, which ended on 31 March. The company attributed the revenue growth in the Egyptian market to the accelerated growth in its data transfer services sector.

Revenue growth rates made Egypt the second largest market for Vodafone Group in the Middle East, Africa, and Asia. Turkey ranked the first as its revenue grew by 19.7% with the support of both corporate and business sectors’ demand to add individual customers. This is in addition to the company’s preparations to launch 4G services in Turkey in April.

Vodafone Group’s annual business report (for the fiscal year ending March 31) showed the group’s profit is worth ‎£41bn and its operating profit is worth ‎£1.4 billion.

The number of Internet users reached 462 million customers in various markets and the company was able to add 16 million new customers from April 2015 until the end of March 2016.

The number of 4G service users increased to 47 million customers, while the number of broadband internet users reached 13.4 million customers.

According to the report, cell phone service revenues accounted for 74 percent of the group’s total revenue and 21 percent for ADSL internet services.

Source: Daily News Egypt