Vodacom in strong first quarter

VODACOM group has reported a strong nine percent advance in revenue in the first quarter of its 2022 financial year, reaching R24,8 billion.
Normalised group service revenue growth was 7,8 percent as international (non-South African) growth accelerated, while South African service revenue was up 5,2 percent to R14,1 billion, “reflecting sustained demand for connectivity services and strong growth in new services”.
However, the strong rand impacted international service revenue, which fell 6,3 percent to R5,3 billion.
Mobile money platform M-Pesa (Kenya) performed well, showing normalised growth of 13,5 percent. Group financial services revenue, excluding Safaricom, contributed 9,8 percent of consolidated services revenue and grew 33,9 percent on a normalised basis. – moneyweb