Research

Vodacom boosts profit as it hits 40 million subscribers in SA

Vodacom boosts profit as it hits 40 million subscribers in SA

South Africa's Vodacom Group VODJ.J posted a 1.1 percent rise in half-year earnings on Monday, while net profit increased 7 percent, boosted by the acquisition of Safaricom SCOM.NR .

"We have consistently said throughout the year that we would accelerate the reduction in data prices and address out-of-bundle prices", the group said in its shareholder statement.

Vodacom invested R3.9bn in its network and IT systems in South Africa in the six-month period. Migration to the new "more data" contracts, which have a larger data allocation, accelerated to 25% of the base.

"The sale of smartphones grew by 18.3%, comprising 59.5% of total device sales", the report read. Data revenue declined by 2.7 percent, with normalised growth of 6.6 percent, supported by an increase of 1.8 million data customers, to 14.8 million, up 23.3 percent.

Underpinning the results were Safaricom's contribution over the last two months of a profit of R349-million and a strong 10.8% expansion of Safaricom's customer base to 29.5-million customers, he said. "In turn, this should continue to drive revenue and customer growth across all markets", Joosub said. The group added 356 000 data users, bringing total data customers to 19.9 million.

More news: Pump prices expected to stay high through the winter

Data revenue comprised 13.6 percent (2017: 13.4%) of global operations' service revenue. It now claims to have 76.7% 4G and 99.3% 3G population coverage, compared to 68.7% 4G coverage a year ago.

Finnish network equipment maker Nokia will trial its 5G technology in South Africa in collaboration with Vodacom Group, the firms said on Tuesday, as they seek to provide faster data delivery. Service revenue declined by 4.8% to R8.3bn.

Customer growth for this service remains strong with 56% of customers using the service in Mozambique, 35.3% in Lesotho and 22.2% in the DRC. Exchange rate volatility continues to dent reported growth in global operations.

Data revenue declined by 2.7%, but comprised 13.6% of worldwide operations' service revenue. M-Pesa added 1.1 million customers in the first half of the year, reaching 14.8 million. Service revenue growth was further underpinned by strong normalised growth in both data and M-Pesa revenue. "Tanzania remains the leader in global operations with 61.7% of customers using M-Pesa", the report read.

"We will be driving further development of M-Pesa across all markets", added Vodacom.


  • Dick's Sporting Goods Inc (DKS) Investment Increased by Renaissance Group LLC

    Analysts are also projecting an Average Revenue Estimate for Dick's Sporting Goods Inc .as $1.89 Million in the Current Quarter. Big 5 Sporting Goods Corporation (NASDAQ: BGFV ) closed up +0.25 points or 4% at $6.5 with 0.86 mln shares exchanging hands.
    Menendez jury says it's deadlocked; judge says to keep going

    Menendez jury says it's deadlocked; judge says to keep going

    The jury resumed deliberations earlier Monday with an alternative, following the dismissal of Arroyo-Maultsby. They also contend Menendez's meetings with government officials were focused on broad policy issues.
    Overwatch Will Soon Receive Some Xbox One X Enchancements

    Overwatch Will Soon Receive Some Xbox One X Enchancements

    Overwatch's colorful characters and incredibly detailed worlds make it a flawless candidate to test Xbox One X's graphical power. Outside of Overwatch , Activision Blizzard already had a slew of AAA games with Xbox One X enhancements to look forward to.
  • Wal-Mart Stores, Inc. (WMT) Position Increased by Swiss National Bank

    Wal-Mart Stores, Inc. (WMT) Position Increased by Swiss National Bank

    It improved, as 44 investors sold V shares while 564 reduced holdings. 72 funds opened positions while 315 raised stakes. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold.
    Dimitrov labors past Thiem at ATP Finals

    Dimitrov labors past Thiem at ATP Finals

    Nadal's appearance has been in doubt after a knee injury forced him to withdraw midway through the Paris Masters tournament. In an error-strewn finale, it was somewhat fitting that a shot long from Thiem clinched victory for Dimitrov.
    Nektar Therapeutics (NKTR) Investment Increased by Rothschild Asset Management Inc

    Nektar Therapeutics (NKTR) Investment Increased by Rothschild Asset Management Inc

    Finally, American International Group Inc. increased its stake in shares of Nektar Therapeutics by 5.8% during the 3rd quarter. Robertson Opportunity Capital Llc holds 3.21% of its portfolio in Cypress Semiconductor Corporation for 370,000 shares.
  • Detroit Police Officers Brawl During Undercover Drug Bust — Operation Gone Wrong

    Detroit Police Officers Brawl During Undercover Drug Bust — Operation Gone Wrong

    An internal investigation is underway after an undercover mix-up led to a fight between Detroit police officers at a crime scene. It happened in the 11th Precinct's jurisdiction, near the border with the 12th Precinct's jurisdiction.
    Liverpool ready to splash out on Wolves starlet Gibbs-White

    Liverpool ready to splash out on Wolves starlet Gibbs-White

    Wolves can not sign him to a new deal until he hits that landmark birthday, and Liverpool are hoping to take advantage of that. The 17-year-old has impressed this season and was part of England Under-17's World Cup winning squad last month in India.
    More claims George HW Bush of groping

    More claims George HW Bush of groping

    Another woman has stepped forward to accuse former USA president George HW Bush of inappropriately touching her. Starstruck by Bush, the teenage political aspirant stood for a photo with him and her mother.
  • #AnambraDecides: Ignore 'Vote And Die' Threat, Groups Tell Anambra Residents

    #AnambraDecides: Ignore 'Vote And Die' Threat, Groups Tell Anambra Residents

    Sources within the battalion told our reporter that the IPOB members were arrested Sunday morning around Alaoji Fly Over. Moshood warned. "The troops are always on ground to prevent any breakdown of law and order during the election.
    Lebanese cardinal arrives in Saudi Arabia to meet PM Saad Hariri

    Lebanese cardinal arrives in Saudi Arabia to meet PM Saad Hariri

    At times it was evident Hariri was holding back tears in the interview, which went on for over an hour. He pleaded with the interviewer to finish the questioning and said he was "tired".
    Lambie to quit parliament over citizenship

    Lambie to quit parliament over citizenship

    Follow Business Insider Australia on Facebook , Twitter , LinkedIn , and Instagram . She also spoke openly about her son's addiction to methamphetamine.