S.Africa Vodacom’s FY earnings rise, upgrades operating growth target

PUBLISHED: Tue, 18 May 2021 05:23:02 GMT


JOHANNESBURG, May 18 (Reuters) – South Africa’s telecoms operator Vodacom Group reported a 3.7% rise in full-year earnings on Tuesday, and upgraded its medium-term operating growth target to mid-to-high-single digit.

Headline earnings per share (HEPS), the main profit measure in South Africa, rose to 980 cents in the year that ended March 31, from 945 cents a year earlier.

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 . (Reporting by Nqobile Dludla; Editing by Jacqueline Wong)

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.