JOHANNESBURG, May 11 – South African mobile telecoms operator Vodacom Group reported a 22.9% increase in full-year profit on Monday, supported by stronger performance across its African operations despite pressure in its domestic South African market.
The telecommunications operator, majority owned by Vodafone Group, said headline earnings per share rose to 10.53 rand for the year ended March 31, compared with 8.57 rand a year earlier. Net income rose to 20.7 billion rand ($1.3 billion), Its shares on the Johannesburg Stock Exchange are up 11% over the past year.
Growth from operations across the African continent helped offset weaker performance in South Africa, where the company recorded a one-off cost during the first half of the financial year.
Vodacom also declared a final dividend of 405 cents per share, reflecting confidence in the group’s earnings outlook and cash generation.
The company has increasingly relied on expansion outside South Africa to drive growth, with operations spanning markets including Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho and Egypt.
The results underscore the growing importance of African telecoms and digital financial services businesses as operators seek to expand beyond traditional voice revenue into mobile money, data and enterprise services.
