Vodacom Group has delivered another stellar performance, with profit from operations rising 15 percent to R12.5 billion in the year to March.<\/p>\n
The number of customers rose 12.7 percent to 34 million. Vodacom, which is co-owned by UK-based cellular operator Vodafone and fixed-line provider Telkom, also operates in Tanzania, Mozambique, Lesotho and the Democratic Republic of Congo. Revenue rose 17 percent to R48.2 billion.<\/p>\n
"Revenue was above expectations," said Rajay Ambekar, an analyst at Cadiz African Harvest Asset Management.<\/p>\n
Other numbers were in line with his expectations, said Ambekar. Earnings before interest, tax and depreciation increased 15.7 percent to R16.5 billion.<\/p>\n
The country’s biggest cellular operator said that further details would be released at the company’s annual results presentation next month.<\/p>\n
Although Vodacom is the biggest cellular operator in South Africa, the company still lags rival MTN, which operates in 21 markets in the African continent and the Middle East.<\/p>\n
MTN is also in discussions with mobile operator Reliance Communications to expand into the lucrative Indian market.<\/p>\n
Vodacom is still looking for opportunities in Africa. It was recently shortlisted for a stake in Ghana Telecom, but the deal had been restarted since the bids did not meet the Ghanaian government’s expectations.<\/p>\n
The Ghanaian government was talking to France Telecom, Portugal Telecom, Vodacom, Vodafone and two other operators, Benjamin Aggrey Ntim, Ghana’s communications minister, said earlier this month.<\/p>\n
But Vodacom spokesperson Dot Field said the company was no longer in the running for a stake in Ghana Telecom.<\/p>\n
Vodacom plans infrastructure expenditure of R2.5 billion in the next five years to grow into fixed-line markets and offer services to blue-chip companies.<\/p>\n
It has established a new unit, Vodacom Business, to look for business opportunities in the lucrative corporate and small medium enterprises market.<\/p>\n
Vodacom Business will offer broadband internet, data back-up, video, and cellphone and fixed-line voice.<\/p>\n
Vodacom Business is also building a fibreoptic network in major cities. The unit will lead to the company taking on its 50 percent shareholder, Telkom.<\/p>\n
Last month Vodacom sealed its long-awaited R7.5 billion black empowerment transaction by selling shares to Thebe Investment and Royal Bafokeng Holdings. It will also allocate the shares to employees, its business partners and the public.<\/p>\n