Vodacom alerts to rise in earnings
Vodacom Group (VOD) says it expects headline earnings per share for the year ended March 2012 to be between 5% and 10% higher than the prior year reported HEPS of 656 cents per share.
The group says basic earnings per share are anticipated to be between 20% and 25% higher than 561 cents per share as a result of the high impairment charges impacting the prior year EPS.
“Vodacom Group delivered a strong performance with Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) growth of approximately 10% for the year ended 31 March 2012,” it said.
Vodacom noted that basic and headline earnings were negatively impacted by an effective tax rate of 36% mainly due to STC on higher dividends paid and the movement in net deferred tax assets derecognised; and higher depreciation and amortisation from higher capital expenditure including non-cash capital additions.
For the year ended March 2011, Vodacom reported revenue of R61 .197 billion and an operating profit of R13.696 billion.
Customers increased 9.0% to 43.5 million across the Group, with South Africa contributing 61.0% of the total base.
Vodacom expects to publish its results on about 21 May 2012.
Shortly before the close of play, shares in Vodacom declined 61 cents to R107.49 on the JSE.
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