Vodacom Q2 Revenues Up 12% on Subscriber Growth and Gateway Acquisition

South Africa based Vodacom has issued a trading statement, reporting that its Q2 revenues rose 12.2% to R14.2 billion (US$1.83 billion) compared to the same quarter last year. The increase was as a result of organic revenue growth of 5.9% and Gateway contributing approximately R800 million in the quarter.

Group mobile customers increased 19.5% from the prior year quarter to 41.3 million at 30 June 2009. The South African mobile operations contributed 69.6% (31 March 2009: 69.7%) of Group total mobile customers and the international mobile operations 30.4% (31 March 2009: 30.3%) at 30 June 2009.

The company didn't comment on its profit/loss in the trading statement.

Pieter Uys, CEO of Vodacom Group, commented: "We delivered on our strategy to offer greater value to customers, drive the penetration of mobile broadband and compete successfully in the enterprise market. "We continued to grow our customer base in our South African and international operations, by 15.4% and 30.0% respectively compared to the same quarter last year. Consumer spending remained under pressure, which we countered with focused promotions in all our markets to offer more value to Vodacom customers.

Vodacom is 65% owned by Vodafone Group, with the remainder listed on the Johannesburg stock exchange.

Looking ahead, Uys added that "we expect customer growth to slow in the remaining quarters as customer registration is now required in our three largest markets. We remain focused on maintaining our market share, stimulating usage and containing our costs."

Posted to the site on 23rd July 2009