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Johannesburg - Voice and data telecoms services firm Vox Telecom (VOX) suffered a 47% decline to 4.04c in full year headline earnings per share, stung by the R61m loss from the Dealstream debacle, it reported on Wednesday.
No dividends were declared.
Revenue jumped 87% to R1.8bn and operating profit surged 64% to R137m. Vox Telecom, one of the top alternative telecoms operator to the big three - Cell C, MTN and Vodacom - said HEPS were severely hit by the loss of R61m from the collapse of its stockbroker Dealstream Securities.
It said if the Dealstream-related losses were excluded, HEPS would have shown a 28% increase on last year's 7.67c.
The company had invested million of rands in the stock brokerage house.
Growth in corporate voice revenue derived from its unit Orion Telecom primarily drove the strong growth in revenue, the group said.
The company said it would continue to pursue growth through organic growth and acquisitions.
"South Africa is poised for further growth in internet penetration with independent analysts such as BMI-TechKnowledge forecasting significant growth in the consumer sector over the next five years," it said.
- I-Net Bridge
