Vodafone reports $28m rise in profit over 2004

Vodafone New Zealand posted a net profit of $182 million for the year to March, up from $154 million the previous year, according to figures released today.

The company reported revenue of $1.2 billion for the March year, up from $1.07 billion the previous year.

Vodafone's finance director David Sullivan said the results reflected a growth in customer numbers and market share.

The British-owned company gained 284,187 New Zealand customers over the period to 1.89 million customers. Through this growth it maintained its position as the largest mobile phone operator in New Zealand, capturing a market share of 55.4 per cent for the year.

"We have a very small piece of the overall telecommunications revenue in New Zealand. While we are number one in mobile, we are the number two telco. In that context we are pleased with our steady growth," Mr Sullivan said.

Mr Sullivan said Vodafone had spent more than $2 billion on local infrastructure since it started operating in New Zealand in 1998.

Since the balance date Vodafone has introduced a number of new services including free text message weekends and 3G services.

Vodafone NZ is wholly owned by Britain's Vodafone Group Plc, which increased its global customer base to 151.8 million in the December quarter.

- NZPA