Revenues alert hits Vodafone IN ASOCIATION WITH Rensburg Sheppards

Collins Stewart analyst Mark James downgraded Vodafone following the update. He said: "Perhaps it was always too good to be true. The Spanish and UK telecoms markets, resilient to the economic slowdown to date, finally look to have cracked. Richard Hunter, head of UK equities at stockbroker Har...

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Bibliographic Details
Published inDaily post (Liverpool, England : 1978)
Main Author RUSSELL LYNCH Daily Post Co
Format Newspaper Article
LanguageEnglish
Published Liverpool (UK) MGN Ltd 23.07.2008
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Summary:Collins Stewart analyst Mark James downgraded Vodafone following the update. He said: "Perhaps it was always too good to be true. The Spanish and UK telecoms markets, resilient to the economic slowdown to date, finally look to have cracked. Richard Hunter, head of UK equities at stockbroker Hargreaves Lansdown, said: "The CEO would not have wished for these numbers as a swansong." In the UK, where the group has around 18.5m customers, organic revenue growth slipped to 2.1%, which the group also put down to "continued competition in the UK market and signs of an economic slowdown". Across the wider European market, it was only the increased strength of the euro against the pound compared with a year earlier which boosted revenues.