Vodacom’s earnings rise

VODACOM, South Africa’s second biggest telecoms operator, upgraded its medium-term operating growth target to mid-to-high-single digit this week, after reporting a 3,7 percent jump in full-year earnings.
The operator said it upgraded its medium-term operating profit growth target from mid-single digit on improved growth prospects for its international business and Kenya’s Safaricom, which is part owned by Vodacom and Britain’s Vodafone Group Plc. Headline earnings per share (HEPS), the main profit measure in the country, rose to 980 cents in the 12 months ended March 31 from 945 cents a year earlier.
Vodacom, which is majority owned by Vodafone, declared a final dividend of 410 cents per share, up 1,2 percent.
Group revenue rose by 8,3 percent to R98,3 billion (US$6,99 billion).