Vodafone loses 41,000 customers

Vodafone Ireland lost 41,000 mobile phone customers last year, according to figures released in its results for the year to March 21, as the company’s European operations struggled.

Vodafone said it had a total 2.12m customers, down from 2.16m a year earlier.

However, Vodafone Ireland reported a 14% increase in the number of customers under contract, which does not include prepay customers. This sector has declined as much as 150,000, with many switching to fixed-term contracts.

“Vodafone Ireland saw a 14% year-on-year growth in contract subscribers, adding 112,000 contract customers,” it said.

“Vodafone introduced 4G services across six cities and 150 towns nationwide in the period to March 31, 2014.”

Vodafone has taken the lead on improving its network, earmarking billions for investment in Europe and across its emerging market operations in a bid to get ahead of its rivals, after selling its US business in a $130bn (€95bn) deal.

Vodafone said next year’s earnings would be hit by vital investment in its network, as it reported an €8.1bn dent to its 2014 results from writing down European operations struggling in a tough market.

“Vodafone continues to spin the plates with mixed success,” said Richard Hunter, of Hargreaves Lansdown Stockbrokers.

“The writedowns across several European regions are further proof of the challenges the company is facing, with underlying profit continuing to move in the wrong direction.”

additional reporting Reuters