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Vodacom to accelerate capex after strong growth in H1
2013-11-11 09:19:00| Telecompaper Headlines
(Telecompaper) Vodacom Group posted a 6.6 percent year-on-year increase in revenue to ZAR 36.7 billion for the fiscal first half to September, reporting strong growth in its international operations and improved growth trends in South Africa. Active customers increased 9.7 percent to 53.8 million at 30 September, with net connections of 949,000 for South Africa and 2.3 million at the International operations for the six-month period. Group EBITDA grew 9.6 percent to ZAR 13.2 billion, at the top end of the mobile operator's mid-term guidance of mid to high single-digit growth. Headline earnings per share were up 10.9 percent to ZAR 4.39, and operating cash flow improved 2.5 percent to ZAR 6.3 billion. Capital investment totaled ZAR 4.9 billion, up 2.9 percent. Vodacom said it plans to step up capital spending in order to strengthen its market share. It raised its mid-term guidance for capex to 14-17 percent of revenue, from an outlook of 11-14 percent issued in May, saying this should also support growth in revenue and EBITDA. At the same time, it maintained its policy to pay out at least 90 percent of headline EPS as dividends and declared an interim dividend per share of ZAR 3.95.
Tags: strong
growth
accelerate
h1
Category:Telecommunications