Share

Vodacom sales gain on network investment

Johannesburg - Vodacom Group said first-quarter sales gained 5.8% as the wireless operator with the most South African customers invested in its network and benefited from currency gains in international markets.

Revenue was R19.9bn in the three months through June, the Johannesburg-based company said in a statement on Thursday. Data sales rose 19%, while international service revenue also increased. The company is about 65% owned by Newbury, England-based Vodafone.

Customer numbers declined 2.6% to 61.8 million as subscriber registration processes changed in international markets, which include Tanzania and the Democratic Republic of Congo. South African customer numbers gained 5.4% to 35.1 million.

“One of the major highlights this quarter is the stellar number of customer additions in South Africa,” Chief Executive Officer Shameel Joosub said.

“This can largely be attributed to the significant investments that we continue to make in infrastructure to sustain our competitive advantage to deliver the best network.”

Vodacom has been striving to boost internet services in its home market as tough competition and stringent regulation eat into revenue from phone services.

The company was forced to abandon a two-year pursuit of Neotel from Tata Communications of India earlier this year, and is considering bids for broadband spectrum made available by the government this month after a delay of about five years.

Vodacom shares have increased 12% this year, valuing the company at R253bn. That compares to a 6% gain for cross-town rival MTN Group.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.36
-0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.50
+0.4%
Palladium
1,002.25
+0.1%
Gold
2,211.80
+0.8%
Silver
24.62
-0.1%
Brent Crude
86.09
-0.2%
Top 40
68,080
+0.6%
All Share
74,278
+0.5%
Resource 10
56,967
+2.4%
Industrial 25
103,572
+0.3%
Financial 15
16,456
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders