Vodacom sees earnings lift

Vodacom says it expects headline earnings per share (HEPS) for the year ended March 2013, to be between 20% and 25% higher than the prior year reported HEPS of 709 cents per share.

Basic earnings per share (EPS) are expected to be between 25% and 30% higher than the prior year reported EPS of 694 cents per share, Vodacom said in a trading statement on Wednesday (24 April).

The group noted that basic EPS in the prior year was affected by impairment charges of R199 million in relation to Gateway.

The group concluded the disposal of Gateway Carrier Services on 31 August 2012, with the profit on disposal of $30 million (R223 million) having a favourable impact on EPS for the period, it said.

Both headline earnings per share (HEPS) and basic EPS were favourably impacted by strong underlying core operating performance and the replacement of secondary tax on companies (STC) with dividend withholding tax.

The tax expense in the prior year included an STC charge of R806 million, Vodacom said.

The tax charge in the current year was favourably impacted by the recognition of an additional deferred tax asset in Mozambique, compared to the net derecognition of deferred tax assets in the prior year.

Vodacom said it expects to publish its results on about 20 May 2013.

In 2012, Vodacom reported a 54.3% increase in total dividend per share to 710 cents, having recorded revenue of  R66.92 billion, and operating profit of R16.6 billion, up 21% from 2011.

More on Vodacom

Vodacom’s problem-parent, Vodafone

SA telcos still a winner: analyst

Vodacom slides on SA opp concerns

Vodacom, MTN feel Cell C’s punches: investor

Vodacom lifted by smartphone and tablet sales

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Vodacom sees earnings lift