Vodafone Stay Committed To Merger As Losses Soar
Joint venture mobile network Vodafone Hutchison Australia has reported a before tax loss of more than $150 million for the first half of the year, up $60 million compared to the same period last year.
The network turned over more than $1.7 billion in the 6 months to June 30, with revenue falling around $30 million.
Vodafone also lost 1,000 customers compared to the same period last year, but total network customers increased 12,000 when MVNOs using the network (Kogan and Lebara) are included.
The two MVNOs account for 350,000 of the 5.99 million customers on the network.
Despite the customer losses, Vodafone managed to maintain its high level of customer satisfaction, recording less complaints than Telstra and Optus
But the company is still yet to turn a profit in a decade of operation.
Vodafone’s business has also been impacted by government decisions.
Vodafone said it remains committed to the merger with TPG blocked by the Australian Competition and Consumer Commission, which is currently being appealed.
But the network is yet to find a new vendor to assist in the rollout of a 5G network after the ban on Huawei last August.