Mobile provider Veon's Q3 revenue rises 3.6% despite geopolitical challenges - Yahoo Finance

(Reuters) - Amsterdam-listed telecoms relation Veon connected Thursday reported a 3.6% year-on-year emergence successful third-quarter revenue, arsenic its 4G penetration and integer relation strategy continued to present maturation contempt macroeconomic and geopolitical challenges.

Veon, which seeks to summation investments successful its integer strategy successful the coming years, continued to station gross maturation successful the 3 months ending September, contempt fears that the struggle betwixt Russia and Ukraine — its astir profitable markets — could unit the group's perfomance.

"Growth successful subscribers, higher 4G penetration, and an expanded portfolio of integer services are driving coagulated gross show crossed our countries", CEO Kaan Terzioglu said successful a statement.

"Inflationary pricing and bully cost-management person enabled america to withstand pugnacious headwinds specified arsenic rising vigor costs, changing taxation regimes, earthy disasters successful Pakistan, and the humanitarian situation successful Ukraine."

Veon, which said connected Wednesday it was seeking to merchantability its Russian business, recorded gross of $2.08 cardinal successful the 3 months to Sept. 30, compared with $2.01 cardinal a twelvemonth earlier.

It besides further strengthened its liquidity position, with $3.3 cardinal successful currency astatine the extremity of the quarter, the radical said.

Russia, Veon's largest market, reported a gross alteration of 6.1% year-on-year successful section currency successful the quarter, impacted by a 58.5% diminution successful instrumentality gross owed to little instrumentality sales.

The group, which besides operates Ukraine's biggest compartment telephone supplier Kyivstar, added the squad continued to support the state connected, with astir 90% of its vigor web operational astatine the extremity of the quarter.

(Reporting by Diana Mandiá successful Gdansk; Editing by Muralikumar Anantharaman and Uttaresh.V)