Vodacom Q1 revenue boosted by increase in customers

Vodacom Group, South Africa’s biggest mobile phone operator by market value, reported on Tuesday a 4.2% rise in group revenue for the first quarter, boosted by service revenue growth in its home market and a increase in customers.

The firm said reported group revenue rose to R21.55 billion ($1.60 billion) for the quarter ended 30 June 2018 compared with R20.65 billion ($1.53 billion) in the previous reporting period.

“In South Africa, despite a tougher economic environment, we grew service revenue by 4.9%, supported by customer growth of 9.5% to reach 43.1 million customers,” said Chief Executive Shameel Joosub in a statement.

Vodacom added 2.5 million customers during the quarter, with 1.5 million from South Africa and 1 million from its international operations.