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Vodacom Posts Sharp Rise in First Half Profits
Published on:
South Africa's Vodacom has reported that its first half revenues rose by 8.4 percent to R34.4 billion (US$3.95 billion), while net profit was up by 39 percent at R6.1 billion (US$700 million).
The group's active customer base increased 20.8% to 50.1 million.
Shameel Joosub, Vodacom Group CEO commented "This was a great set of results with improvements in the traditional voice business and strong performances in the data and International segments lifting overall revenue growth."
"We also controlled costs well, with the end result that despite aggressive competition and an inflationary cost environment, we actually managed to increase margins."
South Africa's service revenue grew 1.3% to R23.8 billion, and would have been 4% higher without cuts to mobile termination rates. Mobile data traffic grew 42.5% which more than offset a 24.2% reduction in the average effective price per megabyte.
The International operations delivered service revenue growth of 36.5% to R6 billion, supported by 19.2% growth in active customers and an outgoing traffic increase of 41.6%. Data revenue grew 140.7% supported by 128.0% growth in active data customers to 4.3 million.
Vodacom is 65% owned by Vodafone Group.
Tags: [vodacom] [South Africa]
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