South African mobile telecoms operator Vodacom Group reported a 25.7% jump in half-year profit on Tuesday helped by growth across its markets and a fuller contribution from Kenya’s Safaricom following the acquisition of a further 20% stake.
The company, majority owned by Britain’s Vodafone, said its headline earnings per share jumped to 5.87 rand in the six months ended September 30 from 4.67 rand a year earlier.
Revenue rose 25.6% to 102.5 billion rand ($6.26 billion), reflecting the consolidation of Safaricom from the second quarter.
Service revenue grew 29.4% in rands and increased 13.3% on a pro forma basis, which includes Safaricom in the comparative period.
A recovery in South Africa’s prepaid market supported growth from all markets, particularly Kenya, Egypt, Tanzania, Democratic Republic of Congo and Lesotho, Shameel Joosub, Vodacom Group CEO said.
The company declared an interim dividend of 355 cents per share, up 7.6%.
