Vodacom revenue up on customer growth
Johannesburg - Cellphone operator Vodacom Group [JSE:VOD] reported an 8% rise first-quarter revenue on Thursday helped by customer growth, but said competition remains intense and it expected further pressure on pricing.
Vodacom, which is majority owned by Britain's Vodafone, said revenue totalled R15.6bn in the quarter to the end of June, compared with R14.4bn a year earlier.
The company said it had 45.4 million customers as of the end of the quarter, up 20.4%.
"Competition remains intense in all our markets and we expect further pressure on pricing in the future," the company said in a statement.
Vodacom shares are up nearly 15% so far this year, compared with a 0.2% rise in the Johannesburg Top 40 - (Tradeable) [JSE:J200] index.