by MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – THE Vodacom Group has announced revenue of R72,8 billion (US$3,9 billion), an increase of 35,5 percent from the previous year.
The acquisition of Vodafone Egypt positively impacted the results, which are for the six months ended September 30.
Vodafone Egypt, the largest acquisition in Vodacom Group’s history, delivered service revenue of R14,3 billion and contributed 24,1 percent of group service revenue.
Financial services revenue increased 39,9 percent to R6,2 billion, contributing 10,5 percent to group service revenue.
Shameel Joosub, Vodacom Group CEO, said the encouraging revenue trend highlighted in the Vodacom Group’s performance in the first three months of the financial year continued into the second quarter – highlighting a strong operating performance.
However, higher interest rates, elevated levels of inflation and currency volatility across markets had an impact on the group’s earnings.
“We remain committed to delivering on our purpose-led strategy that aims to enhance societal value and deliver value to our customers,” Joosub said.
Vodacom has invested R4,5 billion over four and a half years to mitigate the impacts of load shedding in South Africa, where it is also committed, at the South Africa Investment Conference, to spend R60 billion in five years.
– CAJ News