Vodafone Australia trims losses

The telco’s hefty mobile investment is paying off, as first-half losses narrow.

Vodafone’s Australian business has trimmed its first-half loss by a quarter, to $137 million, and lifted customer numbers as its hefty investment in its mobile network continue to pay off.

Australia’s third-largest mobile phone provider after Telstra and Optus on Friday said it has boosted its total customer base to 5.5 million, up 4.5 per cent from June 30, 2015.

Vodafone Hutchison Australia, a 50/50 joint venture between Vodafone Group and Hutchison Whampoa, posted a 9.7 per cent drop in total revenue to $1.6 billion for the half, attributing the drop to a regulated drop in call charges, but said it expected growth seen over the previous four half-year periods to continue for the remainder of the year.

AAP