SA's biggest mobile operator Vodacom reported on Monday its acquisition of Vodafone Egypt, the largest acquisition in its history, helped lift revenue over a third to about R73 billion in its half-year to end-September. Excluding this, group service revenue grew 7.9%, the group reported, while headline earnings per share declined 4.2%, largely attributable to a start-up loss in Ethiopia, higher interest rates, as well as the effects of a deferred tax asset recognised in Tanzania in the prior year. The group cut its dividend just over a tenth to 305c per share, about a R6.34 billion payout for a group valued at about R213 billion on the JSE. In late morning trade, Vodacom's shares slipped 5% and have fallen by almost 16% in the last year.

Source: Ethiopian News November 13, 2023 10:29 UTC