Vodacom Delivers Mild Interim Performance - Frost & Sullivan

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Vodacom Delivers Mild InterimVodacom Delivers Mild Interim Performance - Frost & Sullivan PR Newswire CAPE TOWN, South Africa, Nov. 11, 2013 - Vodacom releases interim financial results Vodacom and MTN, the country's two largest mobile operators, have faced challenges over the last few periods, which they have not had to endure over the last five or six years. The local mobile market is rapidly approaching saturation; with Cell C and Telkom Mobile offering greater competition and the regulator playing a bigger role in driving prices down. This pressure is being reflected in performance, as Vodacom posted very moderate growth from local operations. The operator, however, continues to benefit from its geographic diversification as operations in other parts of Africa remain a major source of growth. Today, Vodacom released interim results for the six month period ended 30 September to reveal a mild improvement in revenue. Group revenues for the six months rose 6.6 percent to R36,668 million from R34,426 million the year before. Headline Earnings Per Share (EPS) / Earnings Before Interest, Taxes, Depreciation (EBITDA) for the period grew by 9.6 percent to R13,221 million. The performance came on the back of declining revenue in the South African operations, countered by a positive performance in the Group's international operations. Interconnect revenue for the current period fell by 23.6 percent.

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• Published by: frost-sullivan
• Published: 11 November 2013
• Reads: 8
• Language: English