Vodafone Egypt outperforms southern Europe

Vodafone in Egypt, the country’s second-largest telecom operator, reported its operations throughout North African outperformed their southern European markets.

Performance setbacks in Southern Europe is a result governing regulators’ imposed price cuts alongside weakening spending powers of countries like Italy and Spain, the company said. Dropping service revenues in their European operations indicates a struggling economy.

Vodafone reported slight service revenue drops in Egypt due to a decline in roaming service demand. This springs from a fewer visitors to the country.

Data services otherwise indicated growth in both markets, reflecting increased smartphone and mobile internet usage.

Vittorio Colao, Vodafone Group chief executive, said, “Despite the further deterioration of the southern European economic environment during the quarter, our broad geographic mix is delivering a resilient overall performance”.

Ahmed al-Hilali