Veon posts 5.4pc revenue growth

KARACHI: Veon in the first quarter of 2017 recorded an impressive revenue growth of 5.4 percent on its Pakistan operations to Rs38.7 million, a statement said on Friday.

The positive momentum is continuing into 2017 with solid revenue growth and synergies on track, it added.

Telecommunication service revenue increased to a noticeable 4.2 percent on a proforma basis to Rs36.2 million, parent company Vimplecom reported.

Mobile data revenue jumped 28.7 percent to Rs5.2 million, whereas the EBITDA being a key measure, was clocked in at Rs16.2 million, up 13.7 percent, it said.

Veon closed the transaction to merge Mobilink with Warid, which as a result consolidates Warid’s financial results into Veon’s financial statements with effect from July 1, 2016, following the merger approval of December, 15, 2016 with retrospective effect from July, 1, 2016.  The company then initiated the rebranding to ‘Jazz’ brand in January 2017, with unifying distribution channels and processes, as an aim of enhancing the customer experience, it added.