Fixed-line operator Telkom`s 50%-owned subsidiary, Vodacom, has achieved increased earnings for the six months to 30 September.
In a SENS statement to shareholders, Telkom says Vodacom - SA`s biggest mobile operator, co-owned by UK mobile giant Vodafone - increased its subscriber base by 13.1%, to 35.7 million, during the period under review.
Revenue increased by 14%, to R26 billion, while profit from operations grew by 12.5%, to R6.4 billion. EBITDA rose 13.9%, to R8.7 billion, while cash generated from operations was up by 15.6%, to R8 billion.
"These provisional results demonstrate once again strong growth in Vodacom`s business. We now have almost 36 million customers, which is a 13.1% increase on a year ago," says Vodacom Group CEO Pieter Uys.
A detailed analysis of the Vodacom Group`s operations and indicators will be released on 17 November.
Telkom recently concluded a deal to shed its stake in Vodacom, selling 15% to Vodafone, for R22.5 billion. This will raise the UK operator`s stake in Vodacom to 65%, while the remaining 35%, held by Telkom, will be unbundled to shareholders. The Vodacom Group is then expected to list on the JSE in the middle of next year.
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