By Reuters
South Africa’s biggest mobile operator Vodacom reported a marginal rise in annual earnings on a stronger second-half performance, but gains were capped by significant currency volatility.
Vodacom, majority-owned by UK-based Vodafone said headline earnings per share rose by 1.3% to 857 cents in the year ended March 31 from 846 cents a year earlier.
It declared a final dividend of 335 cents per share.
“Given significant currency volatility, I am particularly impressed with the strong finish the group produced in the last six months, supporting the confidence we communicated in November last year that the organisation is poised for a stronger second-half performance,” CEO Shameel Joosub said.
Group service revenue dipped 0.1% in rand terms to 120.7 billion rand ($6.69 billion).
However, it was up 11.2% on a normalised basis, beating the company’s medium-term target on strong service revenue growth from its rest of Africa operations which includes Egypt, Lesotho,
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