Vodacom boasts growth in revenue
The sale of smart devices is largely responsible for the telecoms company's 8.1 percent revenue increase.
Telecoms company Vodacom has reported an 8.1 percent increase in revenue for the year ending 31 March 2018, bringing its revenue up to R70 billion. Headline earnings per share remained flat at R9.23. According to the company, the increase was driven by smart device sales, which account for 70 percent of total devices sold.
The company said:
“South Africa delivered robust performance, despite ongoing data pricing transformation and a low economic growth environment… Data revenue grew strongly at 12.8 percent to R23.4 billion, contributing 42.8 percent of service revenue. This represents strong growth as we transform pricing for customers by reducing out-of-bundle spend.”
Moreover, Vodacom Group revenue grew at 6.3 percent, to R86.4 billion, and net profit increased 18.6 percent. According to the firm, this was boosted by the acquisition of Safaricom and the profit from the Helios Towers Tanzania Limited sale.
Pictured: Till Streichert, Vodacom Group CFO