Telecommunications giant Vodacom today reported its full year results which shows a surge in subscribers and strong revenue growth.
The group said it will proceed with paying out nearly R7.5 billion final dividend payment to shareholders on the back of a strong financial performance.
Vodacom registered 5.9 million new subscribers in the year ended March – taking its total subscriber base to 116 million across the markets it operates in.
Shameel Joosub, Vodacom Group CEO, said an improved second half performance in South Africa and the sustained growth of the company’s International businesses contributed to the group’s 8.9% increase in profits.
“The past year has been characterised by strong customer growth – we now connect 116 million customers across the Group, including Safaricom – and the benefits of prudent portfolio diversification,” Joosub said.
“In South Africa, sharp data price reductions, specifically out-of-bundle data rates, announced in the first quarter led to a steady increase in data traffic as the year progressed with 1.9 million more data customers connecting to the Vodacom network, a 9.7% increase to 21.9 million.”
