Vodacom grows revenue to R76 billion

Vodacom unveiled its financial results for the year ended 31 March 2014, which showed that the company increased its revenue to R76 billion.

Vodacom group increased its active customers by 13.8% to 57.5 million, which equates to 7.0 million net connections in the year.

Vodacom SA results

In South Africa Vodacom increased revenue to R61.8 million. This growth was largely driven by a 28.6% growth in equipment revenue.

“The strong growth in equipment revenue was supported by our device financing programme which underpins our strategy of making data capable devices affordable for more of our customers,” Vodacom said.

Service revenue grew 0.3% to R48,316 million. “Excluding the impact of lower mobile termination rates (‘MTRs’) which resulted in a 21.7% decline in interconnect revenue, service revenue increased 3.0%,” Vodacom said.

The return to service revenue growth is mainly due to higher data revenue growth of 23.6% which offset a 3.5% decline in voice revenue.