{"id":13064,"date":"2012-05-21T13:22:37","date_gmt":"2012-05-21T11:22:37","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=13064"},"modified":"2012-05-22T12:50:02","modified_gmt":"2012-05-22T10:50:02","slug":"vodacom-profits-hit-by-tax","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/13064\/vodacom-profits-hit-by-tax\/","title":{"rendered":"Vodacom profits hit by tax"},"content":{"rendered":"<p><a title=\"Vodacom\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1639-Vodacom\">Vodacom<\/a> posted an after tax profit of R10.2 billion on Monday (21 May 2012) for the year ending March 31, with a R5.7 billion tax bill cutting earnings.<\/p>\n<p>The group said tax increased by 23 percent compared to the prior year, mainly due to increased profitability and a higher secondary tax on companies.<\/p>\n<p>Net profit rose to R10.2 billion, up from R7.9 billion in 2011.<\/p>\n<p>Capital expenditure for the period was R8.6 billion or 37.3 percent higher than the year before. The growth in South African capital expenditure was largely due to an increase in the RAN (radio access network) renewal project, the self provisioning of its transmission network and investment in information technology and billing systems.<\/p>\n<p>Chief executive <a title=\"Pieter Uys\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2955-Pieter-Uys\">Pieter Uys<\/a> said the group&#8217;s first year trading as &#8220;the new red Vodacom&#8221; had been a big success.<\/p>\n<p>&#8220;Our customer base has expanded 30 percent to 48 million, we&#8217;ve invested R8.7 billion in our networks and we&#8217;ve achieved the number one net promoter score in South Africa and in two out of our three measured International markets.&#8221;<\/p>\n<p>The group saw &#8220;encouraging growth&#8221; of 9.8 percent in its contract customer base, he said.<\/p>\n<p>Data and the international businesses were driving growth into the future. These accounted for 87 percent of the growth in group service revenue. Some five million active data customers had been added, taking the total in this group to 15 million.<\/p>\n<p>The international customer base had reached 19 million, an increase of 36 percent.<\/p>\n<p>Uys said competition was expected to intensify in the coming year, particularly in the data business. Consumers would also remain under pressure from rising food and fuel prices.<\/p>\n<p>Despite these pressures, Vodacom believed that continued improvements in its customer proposition, data demand and continued momentum in its international operations would support growth.<\/p>\n<p>The group ended the year with free cash flow of R10.97 billion, a 24 percent increase over the previous year.<\/p>\n<p>A dividend of 450 cents per ordinary share was declared and would be paid on June 25.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodacom posted an after tax profit of R10.2 billion on Monday (21 May 2012) for the year ending March 31, with a R5.7 billion tax bill cutting earnings.<\/p>\n","protected":false},"author":4,"featured_media":5766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[25,875,2887,27],"class_list":["post-13064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-active","tag-capex","tag-tax","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=13064"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13064\/revisions"}],"predecessor-version":[{"id":13209,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13064\/revisions\/13209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5766"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=13064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=13064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=13064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}