TELKOM TKGJ.J, South Africa’s leading landline operator, said on Monday group revenue for the nine months ending Dec. 31 climbed 0.9%, driven by a 40.7% rise in mobile service revenue.
The news sent shares up 7.6% to 39.74 rand at the open.
Group revenue rose to 32.4 billion rand ($2.18 billion) from 32.1 billion rand in the same period a year earlier, said the partly state-owned company, which is also the country’s third biggest mobile service provider said in a statement.
Group revenue growth compares with a fall of 0.4% reported in the first half to Sept. 30 thanks to a slight recovery in the economy in the third quarter as the country lifted the majority of lockdown restrictions, Group Chief Executive Sipho Maseko said.
The consumer business, which houses Telkom’s mobile business, continues to be the driver of growth due to increased demand for connectivity from millions of South
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