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Vodacom boasts sales jump

Feb 08 2012 13:52 Reuters

Company Data

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.01
Change -1.74
% Change -0.01
Cumulative volume 667069
Market cap 188.99bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

MTN GROUP LIMITED [JSE:MTN]

Last traded 235.13
Change 0.1
% Change 0.00
Cumulative volume 6437779
Market cap 434.60bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Vodacom Group [JSE:VOD], the South African unit of Britain’s Vodafone, reported a 12% jump in the third-quarter sales on Wednesday, buoyed by solid growth in customers and its data business.

Vodacom said October-December revenue totalled R17.99bn up from R16.03bn a year earlier.

The company has been focusing on expansion outside its crowded home market as well as increasing its revenue from mobile data, which is expected to have huge growth potential in Africa.

Vodacom boosted its customers by 27% to 52.9 million, with nearly half of the new customers from outside South Africa.

Outside of its home market, Vodacom has operations in Democratic Republic of Congo - where it has been locked in a long dispute with its local partner - and a handful of smaller markets such as Tanzania, Mozambique and Lesotho.

Although the dominant mobile carrier in South Africa, Vodacom is dwarfed on the continent by South African rival MTN Group [JSE:MTN] and India’s Bharti Airtel.

Vodacom has said it is looking for opportunities for further expansion in Africa, with an emphasis on small-scale acquisitions in countries adjacent to its existing operations.

Data revenue increased by 24%, the company said.

 
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