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Vodacom half-year profit surges 25.7% on Africa-wide growth, Safaricom deal

By Reuters News

By Nqobile Dludla

JOHANNESBURG, Nov 10 (Reuters) - South African mobile telecoms operator Vodacom Group VODJ.J reported a 25.7% jump in half-year profit on Tuesday helped by growth across its markets and a fuller contribution from Kenya's Safaricom SCOM.NR following the acquisition of a further 20% stake.

  • The company, majority owned by Britain's Vodafone VOD.L, said its headline earnings per share jumped to 5.87 rand in the six months ended September 30 from 4.67 rand a year earlier

  • Revenue rose 25.6% to 102.5 billion rand ($6.26 billion), reflecting the consolidation of Safaricom from the second quarter

  • Service revenue grew 29.4% in rands and increased 13.3% on a pro forma basis, which includes Safaricom in the comparative period

  • A recovery in South Africa's prepaid market supported growth from all markets, particularly Kenya, Egypt, Tanzania, Democratic Republic of Congo and Lesotho, Shameel Joosub, Vodacom Group CEO said

  • The company declared an interim dividend of 355 cents per share, up 7.6%



($1 = 16.3621 rand)

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