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Vodacom eyes big turnaround

Oct 19 2010 16:35 Reuters

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 216.17
Change 1.8
% Change 0.01
Cumulative volume 1541149
Market cap 404.72bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 129.01
Change 0.38
% Change 0.00
Cumulative volume 1614393
Market cap 191.96bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 38.02
Change -0.14
% Change 0.00
Cumulative volume 314207
Market cap 19.80bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Vodacom Group [JSE:VOD], the mobile operator majority owned by Britian's Vodafone, said it expects first-half profit to rise by up to 40%, after the previous year's results were hit by one-time charges.

Vodacom, the largest mobile phone company in South Africa, said on Tuesday it expects headline earnings per share of between 285 cents and 307 cents for the six months to end-September.

That compares to 219 cents in the same period a year earlier, when results were hit by a revaluation of financial instruments and the reversal of a deferred tax asset.

While Vodacom is the dominant player in South Africa, it is overshadowed across the continent by rival MTN Group [JSE:MTN].

It also faces new competition from former shareholder Telkom [JSE:TKG], which this month launched its own mobile business.

Vodacom said it expects to report first-half results on or around November 8.

Shares of the company were up 1.29% at R68.52 as of 12:59 pm, outperforming a flat Top-40 index.

Vodacom's shares are up about 20% so far this year, outperforming the Top-40 and MTN, both of which are up about 8%.
vodacom group  |  mtn group  |  telkom
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