Vodacom full-year profit slides 6.4%
reported a 6.4% drop in full-year profit due to load shedding and operational activities.
Its headline earnings per share came in at R9.48 for the year ended 31 March, down from R10.13 posted a year ago., has been investing to become a pan-African player, a leading financial services firm and strengthen its data offering in South Africa. But those efforts were dampened as South Africa, its biggest market in the region, has been struggling with rolling blackouts for up to 10 hours a day, forcing telecommunications firms to run their towers and network on diesel-run generators.
Vodacom’s revenue for the year jumped 16% to R119-billion, led by a purchase of a 55% stake in Vodafone Egypt and depreciation of the local currency. —
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