Vodacom grows revenues despite declining South African subscribers

By bne IntelliNews May 17, 2010
Vodacom managed togrow its revenues despite declining numbers of South African subscribers, Frost& Sullivan reported. Results for the year ended Mar 31, showed 5.6% growthin group revenues, to ZAR 58.5bn. Group mobile data revenue was up 31.9%, withearnings before interest, tax, depreciation and amortisation margins also up to33.8%; 8.7% growth to ZAR 19.8bn. Headline earnings were 510 cents /share;22.3% up, y/y. F&S said Vodacom dominates the mobile broadband segment,with data service its key growth option, but added that the groups partnershipwith Vodafone will boost the firm in the global services sector. Vodacomdeclared a 175 cents/share final dividend.

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