Vodacom sees jump in interim results

Mobile operator Vodacom said Monday (22 October), that it expects its headline earnings per share for the six months ended September to be between 20% and 25% higher than the corresponding period last year.

For the interim period  in 2011, Vodacom reported HEPS up to 324 cents and declared an interim dividend per share to 260 cents.

It also reported service revenue of R23.505 billion.

The group expects basic earnings per share (EPS) to be between 30% and 40% higher than  301 cents in 2011.

Vodacom reminded shareholders that EPS in the prior year was affected by impairment charges of R318 million in relation to Gateway. The Group concluded the disposal of Gateway Carrier Services on 31 August 2012, the profit of which had a favourable impact on EPS for the period.

“Both HEPS and EPS were favourably impacted by strong underlying core operating performance and by the replacement of secondary tax on companies with dividend withholding tax‚ which is not included in the income statement tax expense‚” Vodacom said in a statement.  STC for the six months ended 30 September 2011 was R417 million, it added.

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Vodacom sees jump in interim results