Vodacom Group Sees Increase In Subscribers And Revenue - Reports
Vodacom has shared its preliminary results for the year that ended on 31 March 2020, showing a rise in revenue and subscriber growth across the group.
The company said that its group revenue is up by 4.8% while its group service revenue growth climbed up by 5.0%.
In its South African business, service revenue increased by 2.3%, while the international operations achieved service revenue growth of 12.5%.
Vodacom also saw impressive user growth in both the total customer as well as the financial service customer divisions.
Vodacom’s CEO Shameel Joosub said that a much-improved second-half performance in South Africa coupled with the sustained growth of Vodacom’s international businesses contributed significantly to the growth of the company.
He added that the past year had been characterised by some strong customer growth – Vodacom now connects 116 million subscribers across the group, including Safaricom.
Joosub said that in the telco’s South African business, a major drop in data prices, including the out-of-bundle rates, resulted in a notable increase in traffic.
Vodacom reported that its digital services business had also produced robust growth, contributing approximately R1.5 billion ($81 420.00) in revenue on the back of the increasing purchases of its video-on-demand offering and its music, gaming, sports and other video services.
Credit: This article originated from www.mybroadband.co.za