South Africa’s biggest cellphone operator, Vodacom, reported a rise in annual profit as it boosted subscriber numbers, parent company Telkom said on Tuesday.
Telkom, Africa’s largest fixed-line telephone operator, said Vodacom had increased its total subscribers by 12,7% to 34-million in the year ended March.
Vodacom’s earnings before interest tax and depreciation rose 15,7% to R16,5-billion and revenue increased 17,1% to R48,2-billion rand for the year ended March.
Vodafone, the world’s largest cellphone group by revenue, owns a 50% stake in Vodacom and Telkom owns the rest.
Vodacom’s profit from operations was up 15% at R12,5-billion and cash generated from operations rose 17,8% to R16,3-billion.
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