Vodacom posts annual profit rise

Mergers, Acquisitions and Financial Results

South Africa's biggest mobile phone operator, Vodacom Group, reported a rise in annual profit, as it boosted subscriber numbers, parent company Telkom said on Tuesday. Telkom, said its mobile unit Vodacom had increased its total subscribers by 12.7 per cent to 34 million by the end of the period.

Vodacom's earnings before interest tax and depreciation rose 15.7 per cent to 16.5 billion rand and revenue increased 17.1 per cent to 48.2 billion rand for the year ended March. Vodafone, the world's largest mobile phone group by revenue, owns a 50 per cent stake in Vodacom and Telkom owns the rest.

Vodacom's profit from operations was up 15 per cent at 12.5 billion rand and cash generated from operations rose 17.8 per cent to 16.3 billion rand. The group has operations in South Africa, Lesotho, Mozambique, the Democratic Republic of Congo and Tanzania. Vodacom will release its full-year results on June 9.

Reuters