Vodacom ekes out 6% profit increase thanks to international markets

 

Vodacom’s first-half profit gained 6% as increasing data revenue in its international markets help ease competitive and regulatory pressure at home.
 Earnings per share excluding one-time items was R4.40 in the six months through September, Vodacom said on Monday. That compared with R4.15 a year earlier.
Data revenue increased 34% and active customers grew 6.8% to 65.1-million people.
Vodacom, 65% owned by Britain’s Vodafone, is expanding in sub-Saharan Africa to counter tough competition and regulatory pressure on sales growth in South Africa, where it is the market leader in terms of subscriber numbers.

The company got competition authority approval to acquire internet provider Neotel earlier this year as it seeks to offer new services in the country, while adding small to medium-sized business customers.
In South Africa, Vodacom’s largest market, it added 1.6-million customers to 33.7-million people. The company also has subscribers in the Democratic Republic of Congo, Lesotho, Mozambique and Tanzania.
Bloomberg