StockMarketWire.com - Vodafone, the FTSE 100 British multinational telecommunications company, has reported €9.4bn in service revenue for the first quarter of its financial year ending 20 June 2021, a 2.7% increase on the year.

The figure represents a slight bump from the same period last year, which was up at €9.1bn in service revenue.

In Europe, its mobile contract churn was at 1.6 percentage points lower than in Q1 2020, before the pandemic.

Roaming and visitor revenue shot up 56% year-on-year- but remains 53% lower than Q1 2020.

Nick Read, group chief executive, said: ‘I am pleased to report that we are back to service revenue growth in Europe, as well as Africa.’

‘This growth was broad-based within both Consumer and Business segments, with the vast majority of our markets contributing. This is a result of our commercial and operating momentum built over the past 3 years as part of our strategic transformation.’

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