Amid its ongoing Please Call Me battle, Vodacom announced a fall in headline earnings and total group profits in the latest quarter.
This is despite a respectable performance in South Africa, with prepaid customers growing to 42.3 million. million
The operator announced group profits of R16.2 billion, a decline of 9.6 percent compared to the same period a year prior, while headline earnings sat at 353 cents per share – a 19.4 percent decline – mostly impacted by Safaricom establishing a foothold in Ethiopia and depreciation of currencies in its rest of Africa markets, such as Egypt.
Vodacom celebrated a 4.2 percent increase in its South African subscriber base despite the disappointing profits, now serving 49.2 million subscribers. South Africans also spent over R31 billion in prepaid mobile data in the quarter. Meanwhile Vodacom Business saw revenues decline by 4 percent to R8.3 billion “reflecting pressure on wholesale revenue,” the results read.
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