Vodacom's interim profit jumps 32% on solid service revenue
The company, majority owned by Britain's Vodafone, said its headline earnings per share (Heps), a key profit measure in the country, jumped to 467c in the six-month period ended 30 September, up from 353c last year.
The figure includes a settlement from a 17-year legal dispute over a call-back service, which Vodacom had not previously disclosed.
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SBG Securities on Friday, 7 November, estimated the settlement at roughly R500m ($28.88m), based on the mid-point of Vodacom's revised Heps estimate range of 459c and 494c.
Group service revenue climbed 12.2% to R65.8bn, while normalised service revenue grew 13.6%, surpassing the company's medium-term target of double-digit growth.
Beyond mobile services, including financial and digital offerings, made up 21.8% of service revenue, with financial services alone up 20.3% at R8bn, representing 12.2% of total group revenue.
The group declared an interim dividend of 330c apiece.
Source: Reuters
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