Vodacom earnings per share to lift

Headline earnings growth was favourably impacted by the broad-based black economic empowerment (BBBEE) charge of R1.315bn in the prior year. However, this was partially offset by losses on the remeasurement of financial instruments and the reversal of a deferred taxation asset of approximately R500m largely recognised and reported on in the six months results to September 2009, it said.

The main difference between basic earnings and headline earnings is the impairment of goodwill. Basic earnings per share for the period are expected to be between 25% and 35% lower compared to the EPS of 409 cents for the year ended March 2009, mainly as a result of the Gateway impairment recognised and reported on in the six months results to September 2009, it added.

Vodacom will release its results on or about Monday 17 May.

- I-Net Bridge