July 25, 2018 / 6:12 AM / in 2 years

Vodafone reports quarterly slowdown in growth

LONDON, July 25 (Reuters) - Vodafone reported a slowdown in first-quarter organic service revenue on Wednesday, with tough trading in Italy taking the shine off the final set of results delivered by outgoing boss Vittorio Colao.

The world’s second biggest mobile operator said organic service revenue grew by 0.3 percent under its new IAS 18 accounting basis. Using the old IFRS 15 system, it grew by 1.1 percent, down on the 1.6 percent growth it recorded last year.

It reiterated its outlook for core earnings and free-cash flow. Colao, an Italian, will step down in October after 10 years in charge. (Reporting by Kate Holton, Editing by Paul Sandle)

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