Vodafone Hellas reports negative six-month results

Vodafone Hellas on Tuesday announced negative results for the first half of the fiscal year 2010-2011 which started in April. 

Vodafone Group reported that turnover of its subsidiary in Greece totaled 486 million pounds sterling, from 601 million pounds in the same period last year, for a decline of 15.6 pct. Customer base totaled 4,957,000, down 535,000, in the six-month period, although average revenue per customer rose to 16.3 euros in the second quarter from 14.7 pct in the first quarter of the year.

EBITDA totaled 124 million pounds, down from 177 million pounds last year. Vodafone Group said its Greek subsidiary’s market value shrank by 800 million pounds, based on a readjustment of the company’s market value.