Vodafone tightens belt by £1bn
Vodafone's half-year results show profits on the slide and any increase in revenue largely attributable to currency fluctuations, prompting a change of strategy and a new round of cuts to shave £1bn off costs by 2011. Overall revenue for April to September 2008 is up by 17.1 per cent, to £19.9bn, but the company admits that this …
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"more value for more commitment"
Two year contracts on the way, by the sound of it. Or maybe five year corporate deals, that kind of thing.
Makes even Asda PAYG start looking quite attractive :)
I wonder how Vodafone are doing with servicing the debt they took out to buy a £6billion 3G licence back in 2001. At least interest rates are lower than they were.
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