Vodafone revenues dented by eurozone crisis

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Mobile phone firm Vodafone has reported modest revenue growth after sales in Spain and Italy were hit by the economic problems in the countries.

<a href="http://www.investegate.co.uk/Article.aspx?id=201202090700260867X" >Revenue from existing customers rose 0.9%</a> in the final three months of 2011, compared with forecasts of 1.1%.

Trading in northern Europe was better, with sales up in Germany, the UK and the Netherlands.

Sales in emerging markets grew strongly. Turkey saw revenue grow by 23% and in India it was up 20%.

Vodafone chief executive Vittorio Colao said: "Despite the further deterioration of the southern European economic environment during the quarter, our broad geographic mix is delivering a resilient overall performance."