Vodacom reaps rewards
22 July 2016 - 09:55
Vodacom said first-quarter sales gained 5.8% as the operator with the most South African customers invested in its network and benefited from currency gains in international markets.
Revenue was R19.9-billion in the three months through June, the company said yesterday.Data sales rose 19%, while international service revenue also increased. The company is about 65% owned by Britain's Vodafone.Customer numbers declined 2.6% to 61.8million as subscriber registration processes changed in international markets.South African customer numbers gained 5.4% to 35.1million."One of the highlights this quarter is the stellar number of customer additions in South Africa," CEO Shameel Joosub said."This can be attributed to the significant investments in infrastructure to sustain our competitive advantage to deliver the best network."Vodacom has been striving to boost internet services in South Africa as tough competition and stringent regulation eat into revenue from phone services.Vodacom shares have increased 12% this year, valuing the company at R253-billion. That compares with a 6% gain for cross-town rival MTN. ..
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